(RealShare Orange County convenes at the Hyatt Regency, Irvine, August 16.)
STANTON, CA-Centerline Capital Group has structured a $35.9-million loan to refinance Park Place Seniors Apartments, a class-B, affordable senior-housing property here on behalf of the borrower, a large local developer working in conjunction with a local non-profit corporation. The loan was a Freddie Mac CME to refinance the property.
Park Place Seniors Apartments is an age-restricted, class-B affordable complex that was built in 1996 utilizing low-income housing tax credits. Now that the 15-year tax-credit compliance period has expired, the sponsor was able to take out the current debt with conventional financing at very attractive terms.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
