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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
- ◦Financing
- ◦Sale/Acquisition




