Amidi Real Estate Group Secures $125 Million Loan From Oaktree Capital Management For TenTen Campus

The multifamily asset involved in the transaction is the TenTen Campus, which encompasses a total square footage of 220,000. Located at 414 North Orange Street in Glendale, this eight-story building consists of 228 units and is currently 95% occupied. Amidi Real Estate Group secured a loan amount of $125 million from Oaktree Capital Management to retire construction debt and preferred equity as the property nears stabilization.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $125,000,000
• Address: 414 North Orange Street
• Market: Glendale
• Asset Size: 220,000 square feet
• Units: 228
• Occupancy: 95%
• Lender: Oaktree Capital Management
• Landlord: Amidi Real Estate Group
• Brokers: Chris Gandy, Ethan Habecker & Max Mraz - JLL

The transaction was facilitated by JLL Capital Markets, with Chris Gandy, Ethan Habecker, and Max Mraz as the brokers involved in arranging the financing for Amidi Real Estate Group in this deal. Their expertise played a crucial role in securing the loan from Oaktree Capital Management, supporting the property's financial restructuring as it approaches full stabilization.