Mike Farley & Tyler Pruett Secure $128 Million Refinance Loan For Multifamily Assets In CA & AZ

The transaction involves a multifamily asset comprising 874 units across four locations: 13933 Chagall Court in Moreno Valley, CA; 2270 Cahuilla Street in Colton, CA; 1333 Reche Canyon Road in Moreno Valley, CA; and 6565 West Bethany Home Road in Glendale, AZ. The total square footage amounts to 699,982. The lender for this transaction is Fannie Mae, with the loan type classified as a refinance and the loan amount set at $128,000,000, carrying a five-year fixed term.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $128,000,000
• Units: 874
• Square Footage: 699,982
• Address: 13933 Chagall Court, 2270 Cahuilla Street, 1333 Reche Canyon Road & 6565 West Bethany Home Road
• Market: Moreno Valley, CA; Colton, CA & Glendale, AZ
• Lender: Fannie Mae
• Landlord: Mike Farley & Tyler Pruett - Tower 16 Capital Partners
• Brokers: Peter Griesinger & Christopher Kramer - Newmark
• Loan Terms: Five-year Fixed

The key individuals involved in this transaction include Mike Farley and Tyler Pruett from Tower 16 Capital Partners, who serve as the landlords. The brokers representing the deal are Peter Griesinger and Christopher Kramer from Newmark, indicating a strategic collaboration in executing this multifamily refinance transaction.