Costa Mesa’s ‘The Village’ Lands Refinancing

Capital One’s Commercial Real Estate division has financed two agency loans, with one impacting an apartment community in Costa Mesa.

The Village at South Coast, a 113-unit apartment complex, secured a $22.3-million Fannie Mae fixed-rate loan to refinance its property.

Constructed in 1977, The Village at South Coast is a Class B apartment complex that offers studio, one-bedroom and two-bedroom floor plans with private patios and balconies. 

Other common-area amenities include a pool, clubhouse and sauna, fitness center, a communal grilling area and central laundry. The complex is located nearby South Coast Plaza, a major regional mall with high-end retailers that attracts visitors from around the world, according to a news release.

Having previously worked with The Village property eased the process.

“Given Capital One’s familiarity with this property, the market and the borrower, we were able to get into a position to rate lock within days of issuing the application letter,” said Capital One SVP of agency finance Kristen Croxton.