The Fannie Mae loan carries a 15-year term and 30-year amortization at low leverage (below 50% LTV) and a low, fixed interest rate (below 3%) resulting in approximately $10 million in cash-out proceeds.
Located at 2069 West San Bernardino Avenue in San Bernardino County, Westcourt Apartments comprises 137 one-bedroom/one-bath units and 378 two-bedroom/two-bath units. On-site amenities at the property include an onsite office/clubhouse; fitness center; three swimming pools; two hot tubs; playground; tennis court; laundry facilities; storage rooms; and controlled access.