SoCal Apartment Portfolio Secures $35M Loan

The owner of a 10-property, 305-unit multifamily portfolio in Southern California has secured $35 million in financing. The financing package includes an $18.1 million cash out.

The loan portfolio is comprised of 10 individual loans with the following terms: 12-year, fixed rate first mortgages, with an interest rate of 3.82% and full-term interest-only payments.

Managing director Aaron Abelson of Berkadia’s Chicago office secured the financing through the Fannie Mae Multifamily Small Loan program.