An affordable senior apartment community in Oxnard, California just refinanced with the help of Marty Meagher and Gardiner Champlin of NorthMarq‘s San Diego office. Consisting of 101 units, the community received a $7.6 million loan from Fannie Mae, with a 10-year, interest-only term and a fixed interest rate. The financing paid off existing bond debt that was credit-enhanced by Fannie Mae.
Management Innovations, Inc. operates the community, which features private patios or decks on most units, a recreation meeting room with fireside seeting, and a food service area.
