G.H. Palmer Associates Secures $168M Refinancing Loan From Fannie Mae For Santa Clarita Multifamily

The asset involved in this transaction is a multifamily apartment complex known as Park Sierra, located at 18414 Jakes Way in Santa Clarita. This property consists of 776 units and is classified as Class B. The loan amount secured for refinancing is $168,000,000 through Fannie Mae, indicating the financial commitment involved. The building was constructed in 1987 and currently maintains a 97% Mission-Driven status, which highlights its alignment with community-focused initiatives. Plans for further renovations are in place to enhance the availability of affordable workforce housing.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $168,000,000
• Address: 18414 Jakes Way
• Market: Santa Clarita
• Units: 776
• Lender: Fannie Mae
• Landlord: Geoffrey Harrison Palmer & Chuck Merrell - G.H. Palmer Associates
• Broker: Trevor Fase - Walker & Dunlop

The deal includes notable figures such as Geoffrey Harrison Palmer and Chuck Merrell representing G.H. Palmer Associates as landlords. The brokerage firm Walker & Dunlop, represented by Trevor Fase, played a crucial role in arranging the loan for this refinancing deal. The transaction reflects a collaborative effort aimed at enhancing the property’s potential and its future contributions to affordable housing in the area.