Capital One provided $76.7 million in Fannie Mae loans for three SoCal properties to Kort & Scott Financial Group. The financing was used to refinance a manufactured housing community, acquire an apartment community and to refinance an apartment community.
The deals included:
- A $42.6-million Fannie Mae structured adjustable rate loan for the acquisition of IMT MetroPointe, a 249-unit apartment community in Norwalk, CA. The 10-year flexible-rate loan has five years of interest-only payments, followed by amortization on a 30-year schedule. Capital One financed this transaction under Fannie Mae’s Green Rewards Mortgage Loan program.
- An $18.7-million Fannie Mae structured adjustable rate loan to refinance Sepulveda Apartments, a 98-unit apartment community in Van Nuys, CA.
- A $15.4-million Fannie Mae structured adjustable rate loan which refinanced Thunderbird Mobile Home Park, a 103-space manufactured housing community in Garden Grove, CA.
Capital One Multifamily Finance’s Chad Thomas Hagwood originated the transactions.
For comments, questions or concerns, please contact Dennis Kaiser