NorthMarq Finances Affordale Seniors Housing

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.

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *