San Francisco Bay Area Multifamily
The first Fannie Mae financing, an $8,408,000 loan, has a fixed rate and 10-year term with a 30-year amortization. The non-recourse loan refinances 40 Glen Eyrie, a 34-unit garden-style apartment community in San Jose, California. Originally built in 1962, the pet-friendly property offers one- and two-bedroom units with amenities such as modern appliances, private outdoor living areas and on-site parking.
The second loan, for $17,500,000, features a fixed rate with a 10-year term and 30-year amortization, with three years of interest-only payments. The non-recourse loan refinances Skyline Vista Apartments, a pet-friendly garden style apartment community in Pacifica, California. The property, which was constructed in 1964, consists of 44 two-bedroom units that offer as modern appliances and upgraded finishes, in-unit washer/dryers, and private outdoor living spaces with views of the San Francisco Bay, as well as on-site parking,