Harbert Management Secures $23.9M Loan For 122-Unit Multifamily In Fremont

The 122-unit Fremont City Center in Fremont, Calif., was acquired by Harbert Management for $35.8 million with financing support from NorthMarq through Freddie Mac's Optigo program. The property, constructed in 1969, offers one-bedroom units averaging 744 square feet and comes equipped with washers and dryers, dishwashers, and outdoor spaces. The rental prices start at $2,350 per month.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $35.8 million
• Address: 39867 Fremont Boulevard
• Market: Fremont
• Units: 122
• Lender: NorthMarq
• Landlord: Raymond Harbert - Harbert Management
• Loan Amount: $23,900,000

Raymond Harbert of Harbert Management successfully acquired the Fremont City Center with financing assistance from NorthMarq. The collaboration facilitated the smooth purchase of the property, adding to Harbert Management's portfolio in the vibrant Fremont market.