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Oxnard Multifamily Property Secures $70M Acquisition Financing
JLL Capital Markets has arranged $70 million in acquisition financing for The Vines at Riverpark, a 164-unit, two-story attached townhome community in Oxnard, CA. The firm represented the borrower, Interstate Equities Corporation (IEC) to secure a two-year, floating-rate loan through Prime Finance with four, one-year extensions.
“This acquisition presents IEC with an opportunity to provide a single-family home alternative to renters within walking distance to schools and parks and The Collection at Riverpark, a major Lifestyle Center,” said IEC Director Brendan Gibney.
The JLL team of Peter Smyslowski, Charles Halladay, Jonah Aelyon, Spencer Bergthold and Elijah Lax represented the seller in the transaction.
The Vines at Riverpark consists of two- and three-bedroom townhomes, average 1,370 square feet. Units feature private garages, washers and dryers, central air and heat and granite countertops. The property is also part of a new, master planned community that is acclaimed for open-space planning.
- ◦Sale/Acquisition
