TEMECULA, CA—Acacia Park Apartments, a 320-unit apartment property here, was recently acquired by a private owner with financial arrangements made by Arbor Commercial Mortgage, a deal reported exclusively by GlobeSt.
Arbor, a national, direct commercial real estate lender, arranged a loan totaling $39,406,000 for the acquisition of the 320-unit complex.
The 10-year under the Fannie Mae Delegated Underwriting & Servicing Loan amortizes on a 30-year schedule and includes two years interest only.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
