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Fannie Mae Provides $82.89M Refinance Loan For 398-Unit Multifamily Property In Simi Valley

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FINANCED
$82,885,000

California

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MultiFamily
Financed
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FINANCED

Fannie Mae Provides $82.89M Refinance Loan For 398-Unit Multifamily Property In Simi Valley

1518 Patricia Avenue

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MultiFamily
Financed
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan

The property asset involved in the transaction is a multifamily unit comprising 398 units located at 1518 Patricia Avenue in the Simi Valley market. The total loan amount is $82,885,000, with a refinance structure at an interest rate of 4.25% and a 5-Year Full Term Interest-Only repayment plan.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $82,885,000
  • Loan Type: Refinance
  • Loan Terms: 4.25%, 5-Year Full Term Interest Only
  • Lender: Fannie Mae
  • Landlord: Daniel Nagel & David Nagel - Decron Properties
  • Brokers: Mike Guterman & Jake Roberts - Bellwether Enterprise (BWE)

Key individuals involved in the deal include Daniel Nagel and David Nagel representing the landlord interests, while Mike Guterman and Jake Roberts comprise the brokerage team facilitating the transaction through Bellwether Enterprise (BWE).

Players

Michael "Mike" Guterman
14 deals$621.5M volume
BROKER

Jake Roberts
Bellwether Enterprise (BWE)
1 deal$82.9M volume(310) 948-1544
BROKER

Fannie Mae
LENDER

David Nagel
Decron Properties
8 deals$680.7M volume
LANDLORD

Details

FINANCED
IMAGE: Daniel Nagel, David Nagel, Mike Guterman & Jake Roberts DATE: 03/05/2026 ADDRESS: 1518 Patricia Avenue MARKET: Simi Valley ASSET TYPE: Multifamily ~ UNITS: 398 LENDER: Fannie Mae (@OfficialFannieMae) LANDLORD: Daniel Nagel & David Nagel - Decron Properties (@DecronProperties) BROKERS: Mike Guterman (@MikeGuterman) & Jake Roberts - Bellwether Enterprise (BWE) LOAN AMOUNT: $82,885,000 LOAN TYPE: Refinance LOAN TERMS: 4.25%, 5-Year Full Term Interest Only

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$82,885,000.00

Monthly NOI$552,566.67
Monthly Debt Service$523,889.58
Change in Cash Flow$0.00
Refinance Proceeds$0.00