Capital One Closes $91M in Financing for SoCal Apartment Duo
Capital One has provided a pair of variable-rate Freddie Mac loans to Raintree Partners, totaling $91 million. The funding consists of $77 million to refinance Colony Parc, a 272-unit community in Ventura, CA and a $14M, four-year coterminous loan for Hensley at Corona Pointe (pictured), a 628-unit complex in the Inland Empire city of Corona, CA.
“We worked alongside Raintree, a repeat Capital One and Freddie Mac sponsor, to best position their plans for continued improvement and investment across these two properties,” said Capital One’s Kristen Croxton who originated the transactions, along with Greg Reed and Tina Quirin.
Raintree acquired the Corona property at the end of 2021 and assumed the existing Freddie Mac loan. The supplemental financing allows the company to continue renovating the community. At the Ventura property, Raintree will use the refi proceeds to continue improving the units and add exterior upgrades as well.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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