(Mark Your Calendars: RealShare Apartments East, February 15th in Washington, DC)
OXNARD, CA-Kennedy Wilson Multifamily Management Group, in a venture with RECP/Urban Partners and Capri Capital Partners LLC, has arranged $54.2 in refinancing on Serenade, a 400-unit apartment complex here. The borrower is Capri Urban Investors LLC.
The financing has a seven-year term and carries a 2.26% rate over LIBOR. Kennedy Wilson chose Deutsche Bank as the lender because the company offered flexible repayment terms under Fannie Mae’s ARM program, according to Robert Hart, president of Kennedy Wilson. The Fannie Mae program allows the borrower to refinance to a seven- or 10-year fixed-rate loan, with a low prepayment penalty.
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