$25,000,000 Multifamily Perm Loan

We are pleased to announce the closing of a $25,000,000 permanent loan on a newly constructed 96 unit apartment project in Camarillo, CA.  

Beachrock successfully closed the fixed rate loan with an agency lender on the newly completed and stabilized apartment project.  The transaction included a "cash-out" component, which allowed the sponsor to return equity dollars. 

Beachrock worked closely with the loan origination team to ensure that the correct market conditions were represented in underwriting, including the recent elimination of leasing concessions, and significant rent increases for renewing tenants, both of which occurred in the final 90 days of stabilization.  This attention to detail allowed for significantly more proceeds than otherwise allowable. 

BEACHROCK THANKS EVERYONE INVOLVED IN THIS TRANSACTION