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VALLEJO, CALIF. — Prime Residential has received a $91.5 million loan to refinance Blue Rock Village, a 560-unit property the company owns in Vallejo, 36 miles north of San Francisco. Walker & Dunlop’s Bryan Frazier and Blake Hockenbury arranged the 10-year, full-term interest-only loan at a fixed rate from Freddie Mac.
Blue Rock Village was developed in two phases in the mid 1980s. The property consists of 41 buildings housing a total of 560 units, a leasing office, a fitness center and a maintenance building, all situated on about 36 acres. Amenities include a pool, hot tub and a dog park.