Newmark Arranges Fannie Mae Loan on San Clemente Active-Adult Complex

Newmark arranged a $58-million Fannie Mae loan for Everleigh San Clemente, a newly constructed 150-unit Class A active-adult (55+) apartment community in San Clemente. The Fannie Mae financing was arranged by vice chairman Lee Redmond, managing director Alec Newman and VP Nick Schroeder of Newmark on behalf of the borrower, an institutional-level joint venture.

“Everleigh San Clemente represents a rare opportunity to finance a high-quality active-adult community in an exceptionally desirable coastal market,” said Redmond. “The property’s strong sponsorship, institutional-quality construction and location within a supply-constrained submarket generated significant lender interest and enabled the execution of favorable financing terms.”

Completed in 2023, Everleigh San Clemente is located within one of Orange County’s most sought-after residential markets. The property is also positioned to benefit from the ongoing revitalization of the nearby Dana Point Harbor, a $600-million-plus redevelopment project to enhance one of Southern California’s premier coastal destinations, according to Newmark.

Inside The Story

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Order Reprints