Multifamily investors are locking in long-term debt on acquisitions to take advantage of low interest rates. United Development Group has secured $11.9 million in financing for the purchase of hunter Place Apartments in Fresno, CA. The garden-style property is 200 units on 8.9 acres of land.

Mark McGovern, Brian Cruz and Morgon Fraser of CBRE debt and structured finance team in the firm's San Diego office arranged the ten-year fixed rate loan through Fannie Mae.

The property is located near Downtown Fresno and near local amenities, like shopping centers and grocery stores. It features onsite fitness center, business center, kids park, swimming pool, barbecue areas, covered parking and four laundry facilities.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

Los Angeles
Multifamily
Capital Markets
West