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Venture West Funding Arranges $8.2 Million Loan Package
for 21 San Diego Properties
El Segundo, Calif.-(BUSINESS WIRE) – May 24,
2004--Southern California-based Venture West Funding,
Inc. announced today that it has arranged an $8.2 million
loan package on 21 properties in San Diego County. The
portfolio consists of 11 multifamily apartments and
10 single family and 2 to 4-unit residential properties
– all owned by the same San Diego-based investor.
Chris Hutchison of Venture West arranged funding. The
multifamily apartments were financed with Impac Multifamily
Capital Corporation and the single family and 2 to 4-unit
properties with Lehman Brothers/Aurora at competitive
market rates.
According to Chris Hutchison of Venture West, "We
continue to expand our presence in San Diego County.
Because we know the underwriting and processing nuances
of many lenders, we are able to move quickly to obtain
the most favorable rates in the shortest amount of time.
The package was completed in less than 35 days. This
large number of properties and complexity of this financing
reinforces Venture West’s ability to offer a diverse
array of real estate financing options to our clients."
Venture West Funding, Inc. was founded nearly 10
years ago, and exceeded $1.0 billion in loan volume
during 2003. Venture West is one of the largest firms
of its kind operating throughout Southern California,
and specializes in providing apartment, commercial and
single-family mortgage loans to a wide variety of borrowers.
Venture West is headquartered at 2101 Rosecrans Avenue,
El Segundo, Calif. (310-364-3131). The firm maintains
a full service office at 9 Executive Circle, Irvine,
Calif. (949-475-5573).
CONTACT: Venture West Funding
Chris Hutchison
(310) 364-3131 Extension 222
Fax: (310) 364-0010
chutch@ventwest.com
www.venturewestfunding.com
or
Santley Associates
Tom Santley
Phone or Fax (626) 441-4594
tsantley@socal.rr.com
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: BANKING REAL ESTATE
SOURCE: Venture West Funding
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