Berkadia Arranges $46.75M Refinancing For Arbor Park Apartments In Upland For NNC Apartment Ventures

Arbor Park Apartments is a 260-unit multifamily property located at 859 North Mountain Avenue in Upland, CA. The recent refinancing was arranged for a total amount of $46,750,000 utilizing a seven-year loan term with interest-only payments at a rate of 4.6%. This refinancing aims to support property upgrades while maintaining solid cash flow.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $46,750,000
• Loan Type: Refinance
• Loan Terms: seven-year, interest only
• Units: 260
• Landlord: NNC Apartment Ventures
• Broker: Allan Freedman - Berkadia
• Date: 11/18/2024

Allan Freedman represented Berkadia in arranging the loan for NNC Apartment Ventures. The refinancing endeavor is intended to facilitate necessary upgrades to the property, ensuring it continues to generate consistent cash flow over the loan duration.