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California  + Inland Empire  + Finance  | 

Capital One Arranges Refi of UCR Student Housing MF

Capital One provided a $16.9 million Fannie Mae fixed-rate loan to refinance International Village, a 92-unit, 341-bed student housing apartment on the campus of the University of California, Riverside (UCR). The 30-year, fixed-rate loan has an interest rate below 5%, and will be amortized on a 30-year schedule.

Positive Investments purchased International Village, a dedicated student property at UCR, in 2016, and has increased occupancy from 78% to more than 93%. The property is subject to a ground lease agreement with the Regents of the University of California.

Built in 2001, International Village is located directly across from the University Extension Center. It offers a diversified mix of studio, two, three, and five-bedroom units.

Capital One Multifamily Finance’s Andrew Kwok originated the transaction. The sponsor, Positive Investments, is a repeat client of Fannie Mae and Capital One.


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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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