Venture West Funding Arranges $7.125 Million Loan on Anaheim, CA Apartment Building
El Segundo, CA - (BUSINESS WIRE) - May 27, 2014
Venture West Funding, Inc., a mortgage company headquartered in El Segundo, CA announced it has arranged a $7.125 million loan for the refinance of the Calabria Apartments located at 2230 W Lincoln Avenue in Anaheim, CA. The 47-unit apartment complex built in 1988 is exceptionally maintained and professionally managed. The borrower is an affiliate of Revere Investments, an experienced multi-family investor who has acquired 11 properties in Southern California in the previous 37 months.
Matt Douglas and Tyler Bradford of Venture West Funding arranged the financing through Banc of California. The non-recourse loan is at a very competitive 3-year fixed rate with interest only payments. Additionally, the loan features a two-year step-down pre-payment structure and low 3rd party fees to further add value for the client. According to Mr. Douglas, "Together with Banc of California we were able to fulfill the borrower's unique objectives by providing advantageous loan terms at a very competitive rate. This refinance allowed the borrower to pull out equity while maintaining profitable cash-flow and pre-payment flexibility." The Venture West team worked closely with the borrower and lender to ensure a successful and efficient loan closing.
Venture West Funding was founded more than 17 years ago and has placed more than $8 billion in loan originations since 2001. Venture West Funding 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 Funding is headquartered at 2301 Rosecrans Avenue, Suite 3170, El Segundo, California 90245 (310.706.4450). The firm also maintains a full-service office in Orange County at 31371 Rancho Viejo Road, Suite 101, San Juan Capistrano, California 92675 (949.218.4002).
Contact
Venture West Funding Matt Douglas, 310-706-4462 mattd@ventwest.com
Tyler Bradford, 310-706-4458 tbradford@ventwest.com www.venturewestfunding.com
or
Tom Santley, 626-441-1445 tsantley@socal.rr.com
Published: May 30, 2014
