El Norte Villas

Feb 21, 2019

El Norte Villas

$24,000,000 non-recourse cash-out refinancing

236 Unit Multi-family Property

Escondido, CA

Highland arranged a $24,000,000 non-recourse cash-out refinancing for El Norte Villas, a 236-unit 1980’s- vintage apartment building located in the San Diego submarket of Escondido between Interstate 15 and Highway 78. Highland identified a portfolio lender that provided significant cash-out up to 65% LTV, fixed for 10 years priced in the low 3% range. Back-end pre-payment flexibility was also included in this permanent loan

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