Advanced Real Estate Services has secured $56 million to refinance the Highland Pinetree Apartments, a 320-unit apartment community located at 1501 South Highland Avenue in Fullerton.

The permanent fixed-rate financing was structured with a fully amortizing 10-year term at an interest rate of 3.74%. This refinance provided $28 million in net cash out that will be used for acquisitions.

Michael T. Elmore, EVP and managing director of NorthMarq's Los Angeles-based regional office secured refinancing on behalf of the borrower.

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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.

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