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Escondido Apartments Get $17.4M in Financing

ESCONDIDO, CA-Berkshire Mortgage Finance provides the Fannie Mae loans for three different Escondido multifamily properties, Mission Village I & II and Mission Bell Apartments. Located within a half-block of each other, the properties consist of three non-contiguous parcels.

By Erin Cassin | Updated on March 30, 2003

ESCONDIDO, CA-Berkshire Mortgage Finance has given $17.4 million in Fannie Mae loans to three different Escondido multifamily properties, as the apartment market here holds strong in the face of an uncertain economy.

The three complexes consist of three non-contiguous parcels, but are situated within a half-block of each other. Mission Village I & II stand at 740-786 Mission Ave. and 825-829 E. Mission Ave., while Mission Bell Apartments is located at 624 E. Mission Ave. The Mission Village I & II properties were built in two phases, which were completed in 1972 and 1974. Located across the street from each other, the complexes consist of 22 facilities that contain a total of 190 units. Each building stands two stories high and has a walk-up layout. A half a block down the street from the Mission Village complexes is the Mission Bell Apartments property, which dates back to 1978. This complex is comprised of four facilities, which also stand two stories high and have walk-up layouts.

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