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California  + San Diego  + Finance  | 

Capital One Closes Freddie Mac Small Balance Loans for SoCal MFs

Capital One provided Freddie Mac small balance loans totaling $31.1 million to finance nine apartment communities in SoCal. The sponsor, Los Angeles-based Positive Investments, is a repeat Capital One and Freddie Mac customer.

All nine hybrid loans combine an initial five-year fixed rate followed by a 15-year floating rate. They will be amortized over 30 years. The rates on all loans were below 3%. Capital One Multifamily Finance’s Andrew Kwok originated the transactions.

Seven of the nine loans were to facilitate acquisitions in Spring Valley, San Diego, El Cajon, and Bellflower. In total, a $25.3 million loan package was structured to finance the acquisition of the following properties:

8947-8949 Troy St., Spring Valley, CA
9360 San Diego St. Spring Valley, CA
415 Grand Ave., Spring Valley, CA
9249 Birch St., Spring Valley, CA
5101-5111 Towle Ct., San Diego, CA
9254-9260 Palm St., Bellflower, CA
Willow Creek Apartments in El Cajon, CA (pictured)

The other two loans were used to recapitalize properties. They include a $1.3 million loan for Rio Rancho, a 20-unit community in Perris; and a $4.5 million loan for 706 McDonald Avenue, a 45-unit community in Wilmington.

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Connect With Capital One’s Kwok

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
  • ◦Sale/Acquisition
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