Reynolds Asset Management Secures $30.5 Million Refinance Loan For Multifamily Property In Orange

The property asset involved in the transaction is a multifamily building with an asset size of 134,358 square feet and 103 units located at 606 Freeman Street, Orange. This transaction was part of a refinance operation, demonstrating a stabilized financial performance in the market. The total loan amount secured for this asset is $30,500,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $30,500,000
• Address: 606 Freeman Street
• Market: Orange
• Asset Size: 134,358 square feet
• Units: 103
• Lender: JLL; Ray Cleeman - Pensam Capital
• Landlord: Lou Reynolds & Matthew Earl - Reynolds Asset Management
• Broker: Thomas E. Didio, Jr & Max Custer - JLL
• Loan Type: Refinance

The key individuals involved in this transaction include Lou Reynolds and Matthew Earl representing Reynolds Asset Management as landlords, while Ray Cleeman represents Pensam Capital in the lending process. The refinancing package was executed by JLL Capital Markets, which included a 5-year Freddie Mac senior mortgage along with preferred equity from Pensam Capital, following a successful lease-up of their project, The Mural.