Newmark Arranges Fannie Mae Loan on San Clemente Active-Adult Complex
Newmark arranged a $58-million Fannie Mae loan for Everleigh San Clemente, a newly constructed 150-unit Class A active-adult (55+) apartment community in San Clemente. The Fannie Mae financing was arranged by vice chairman Lee Redmond, managing director Alec Newman and VP Nick Schroeder of Newmark on behalf of the borrower, an institutional-level joint venture.
“Everleigh San Clemente represents a rare opportunity to finance a high-quality active-adult community in an exceptionally desirable coastal market,” said Redmond. “The property’s strong sponsorship, institutional-quality construction and location within a supply-constrained submarket generated significant lender interest and enabled the execution of favorable financing terms.”
Completed in 2023, Everleigh San Clemente is located within one of Orange County’s most sought-after residential markets. The property is also positioned to benefit from the ongoing revitalization of the nearby Dana Point Harbor, a $600-million-plus redevelopment project to enhance one of Southern California’s premier coastal destinations, according to Newmark.
Stay ahead of the multifamily market at Connect Apartments. Gain firsthand insights from industry leaders on capital markets, development, operations, financing, and investment trends while expanding your network with the people making deals happen. See you on September 22!
Other News
Lewis Group Opens Second NorCal Rental-Home Community in West Sacramento
Independence in West Sacramento, a new gated community of 208 townhome-style rental homes developed by Lewis Apartments, opened its leasing office and model homes to the public on Saturday, Oct. 24. Located in West Sacramento’s Southport/Bridgeway Island area, Independence introduces rental homes designed for residents who want the space and privacy of a single-family home...
Learn more
CBRE Arranges Sale of Future Mixed-Use Development in Wisconsin
CBRE announced the sale of a 4.66-acre parcel at the northwest corner of County Highway MM and U.S. Highway 14 in Fitchburg, Wisconsin. Louisville, Kentucky-based Trilogy Real Estate Fitchburg LLC purchased the property from Fairchild Development LLC for $2.23 million, marking the company’s third location in the Madison market and expanding its footprint beyond its...
Learn more
Northmarq Arranges $96M Refi on SoCal Apartment Portfolio
Northmarq has arranged $95.8 million in refinancing for a six-property, 1,461-unit multifamily portfolio owned and operated by E&S Ring across Los Angeles and San Bernardino Counties. The financing was arranged through Voya Investment Management by Northmarq’s San Francisco Debt + Equity team, led by managing director Nathan Prouty, SVP Andrew Slaton and senior investment anaylst...
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