Walker & Dunlop, Inc. arranged the $87.2-million acquisition financing for Santa Fe Ranch Apartments, a 320-unit garden-style conventional multifamily property in the coastal submarket of La Costa. A Walker & Dunlop Capital Markets team led by Mark Grace and John Montakab arranged the interest-only, fixed-rate loan on behalf of an institutional investment group, with Freddie Mac providing the capital.
Santa Fe Ranch is a 1987-vintage, 320-unit multifamily community situated on 20 acres. As the largest community in La Costa and the third largest in all of Carlsbad, Santa Fe Ranch offers walkable access to top-rated schools, retail, dining, and outdoor amenities like Stagecoach Park.
“Santa Fe Ranch is a standout asset in Carlsbad, held by the seller for many years,” said Grace. “Our client is acquiring a rare value-add opportunity in a prime, supply-constrained market where new development is extremely limited, highlighting the long-term growth and strategic potential of this property.”
The post La Costa Apartment Acquisition Nabs $87M Loan appeared first on Connect CRE.
