Northern California Apartment Portfolio

DUS Perm Loan

922-Unit Multi-Family

San Francisco and Sacramento

HRC secured a $50 MM Freddie Mac credit facility for an 8 building MF portfolio consisting of 922 class-B apartment units in the San Francisco Bay Area, and the Sacramento Region. The loan was structured with the bottom $40 MM fixed at an attractive rate and the top $10 million available as a credit line under a sub 165 spread variable rate structure. The unique structure accomplished three things for the Borrower; 1) it anchored a third of its portfolio at a market-low fixed rate, 2) it created a flexible credit line facility that provided a competitive advantage in acquiring properties, and 3) it provided a simple mechanism to handle future estate tax issues.

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