Alliant Strategic Investments Secures $15.3 Million Loan Via Paul Angle And Hector Zuniga

The property involved in this transaction is Village Green Apartment Homes, an affordable multifamily housing property located at 2122 W Chestnut St, San Bernardino. It was built in 1968 and renovated in 1999, comprising a total of 184 garden-style units distributed across 38 one- and two-story residential buildings set on 20 acres.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $15,300,000.00
• Borrower: Alliant Strategic Investments
• Borrower's Representatives: Paul Angle (Key Bank), Hector Zuniga (Key Bank)
• Loan Structure: 10-year term with a three-year interest-only period, amortizing on a 30-year schedule
• Renovation Investment: $1,800,000 planned for interiors, exteriors, and common areas
• Income Restriction: Land use agreement limits units to tenants with an income at or below 60 percent of the area median income
• Housing Assistance: Benefits from a housing assistance payments contract covering 65 units until 2023

Paul Angle and Hector Zuniga from KeyBank Real Estate Capital’s commercial mortgage group structured the Freddie Mac loan for refinancing the property. They played a crucial role in facilitating the financing arrangement that supports the renovation plans and compliance with housing regulations.