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California  + Los Angeles  + Finance  | 

Santa Clarita Affordable Refinanced for $168M

Walker & Dunlop, Inc. said Monday it arranged a $168-million loan to refinance Park Sierra, a 776-unit, Class B, garden-style apartment building in Santa Clarita. The financing was arranged by Walker & Dunlop’s California Multifamily Finance team, led by Trevor Fase, on behalf of G.H. Palmer Associates. Fannie Mae provided the financing package.

“We are thrilled to continue our long-standing partnership with G.H. Palmer, a valued repeat client,” said Fase. “G.H. Palmer has consistently demonstrated a strong commitment to developing and preserving affordable housing in Santa Clarita. With 97% of the units at Park Sierra qualifying as ‘Mission-Driven,’ this community plays an essential role in providing quality, affordable housing in the market, and we’re proud to help support that mission.”

Originally developed in 1987 by G.H. Palmer Associates, the property consists of 97 one-bedroom and 679 two-bedroom apartments. Approximately 40% of the units have been rehabilitated, with significant additional capital investment planned.

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Walker & Dunlop's Fase

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).

  • ◦Financing
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