July 28, 2020 Comments (0) Views: 327 California News, Inland Empire

Silver Star Snags $31M Loan for Amber Ridge Acquisition

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Silver Star Real Estate secured a $30.58 million loan for the acquisition of Amber Ridge Apartments in La Verne. Located at 2421 Foothill Blvd., the property consists of 147 garden-style units.

JLL worked on behalf of the borrower to secure the 10-year, floating-rate loan through Freddie Mac. The loan will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo lender.

Boasting a combination of both modern and classic apartment styles, Amber Ridge has a heated swimming pool, 24-hour fitness center, barbeque area with outdoor entertainment such as picnic areas, two playgrounds and a clubhouse.

The JLL Capital Markets team representing the borrower included Greg Brown, Nicolas Lench and Charlie Vorsheck.

Brown says, “The attractive loan terms will allow them to execute their business plan and drive their returns.”

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