Hunt Real Estate Lends $35M on Anastasi’s SoCal Multifamily Portfolio
The five residential properties include more than 300 units in Los Angeles and Riverside Counties.
Hunt Real Estate Capital has agreed to provide $34.57 million in debt to refinance five multifamily properties totaling 318 units in Southern California.
It is Hunt’s second major loan for Los Angeles County real estate in as many months. The agreement includes one Fannie Mae conventional loan and four Fannie Mae small-loans, all on 30-year, fixed-rate terms. The properties are owned by Anastasi Development Company, which is based in Redondo Beach.
Three of the properties are located in L.A. County’s city of Hawthorne, near El Segundo and Los Angeles International Airport. Both the 40-unit Bristol Square complex at 14415 Lemoli Avenue and the 39-unit Windsong Terrace at 14030 Kornblum Avenue were renovated this year. One street over, the Summer Wind Apartments complex at 14034 Yukon Avenue includes 24 units. All three properties were first completed in 1987.
The other two properties in the portfolio are located in the Inland Empire, the booming region east of L.A. They include the 200-unit Park Towne Apartments at 290 Wilson Avenue in the city of Perris, located in Riverside County, and the 15-unit Bogart Apartments at 4923 Bogart Street in the city of Riverside.
Hunt Real Estate has been financing residential projects around the country this year, including a $64.1 million loan to a joint venture between SDG Housing Partners and nonprofit Affordable Housing Access for the purchase and renovation of a 216-unit property in San Pedro.
Meanwhile, Anastasi is also busy with a 157-unit mixed-use project at 507 Pacific Avenue in Downtown Long Beach.