La Costa Apartment Acquisition Nabs $87M Loan
Walker & Dunlop, Inc. arranged the $87.2-million acquisition financing for Santa Fe Ranch Apartments, a 320-unit garden-style conventional multifamily property in the coastal submarket of La Costa. A Walker & Dunlop Capital Markets team led by Mark Grace and John Montakab arranged the interest-only, fixed-rate loan on behalf of an institutional investment group, with Freddie Mac providing the capital.
Santa Fe Ranch is a 1987-vintage, 320-unit multifamily community situated on 20 acres. As the largest community in La Costa and the third largest in all of Carlsbad, Santa Fe Ranch offers walkable access to top-rated schools, retail, dining, and outdoor amenities like Stagecoach Park.
“Santa Fe Ranch is a standout asset in Carlsbad, held by the seller for many years,” said Grace. “Our client is acquiring a rare value-add opportunity in a prime, supply-constrained market where new development is extremely limited, highlighting the long-term growth and strategic potential of this property.”
Other News
Jonathan Rose Announces Revamp of Ohio Seniors Housing
Jonathan Rose Companies and Community Opportunity Fund, a nonprofit focused on expanding affordable housing and connecting residents to opportunity, announced plans for a comprehensive $32.8 million rehabilitation of Ashtabula Towers, a 202-unit affordable senior housing community in Ashtabula, Ohio. The project represents a significant reinvestment in a longstanding community asset, with updates designed to enhance...
Learn more
Atlas Capital Snags Hell’s Kitchen Apartments for Reported $150M
Atlas Capital Group has acquired 360 W. 43rd St., a 256-unit multifamily property located in Midtown Manhattan’s Hell’s Kitchen neighborhood. Although Atlas Capital did not disclose the acquisition price, Crain’s New York Business reported it as approximately $150 million, or about $586,000 per unit. The 23-story, approximately 250,000-square-foot property comprises 256 rental apartments, 13,000 square feet...
Learn more
EYA Advances Two Residential Developments in Fairfax County
EYA LLC, a D.C.-based urban infill residential developer, is advancing two major residential projects in Northern Virginia. The firm’s Prosperity Park project received approval from the Fairfax County Board of Supervisors, and the Idylwood Hill development reached a key milestone with the closing of its 6.97-acre site in Falls Church. The two projects will bring...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout