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Venture West Funding Arranges $12.355 Million Loan on Four Apartment Buildings
El Segundo, Calif.-(BUSINESS WIRE) –April 2, 2008 – Southern California-based Venture West Funding, Inc. announced it has arranged refinance loans totaling $12.355 million on four well-located Southern California apartment buildings. Matt Douglas of Venture West Funding arranged the financing through Union Bank and Luther Burbank Savings for a Northern California-based apartment investor. The four apartment buildings total 131 units with three buildings located in Brentwood and one in Sherman Oaks.
According to Douglas of Venture West, "We secured three five-year fixed rate loans and one 10-year fixed with an average rate less than 5.5%. Despite the general real estate credit crunch and the tightening of underwriting standards by lenders, we have continued to secure competitive loans for our clients. Venture West has maintained relationships with many lending institutions that offer a variety of products to fit our clients’ needs. We too are very bullish on the outlook for multi-family lending during these volatile credit markets.”
Venture West Funding was founded over 18 years ago and has funded more than $5 billion in loan volume since 2002. Venture West is one of the largest firms of its kind operating throughout Southern California, and specializes in providing mortgage loans secured by apartment buildings, commercial properties and single-family homes to a wide variety of borrowers. Venture West is headquartered at 2301 Rosecrans Avenue, Suite 3100, El Segundo, California, 90245 (310.706.4450). The firm also maintains a full-service office in Orange County at 2 Park Plaza, Suite 220, Irvine, California 92614 (949.475.5573).
CONTACT: Venture West Funding
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: BANKING REAL ESTATE
SOURCE: Venture West Funding |
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