LOS ANGELES — Locally based E&S Ring Management Corp. has obtained $95.8 million in loans to refinance a six-property, 1,461-unit portfolio. E&S owns and operates the communities, which are located throughout metro Los Angeles. Northmarq’s Nathan Prouty, Andrew Slaton and John Holt arranged the financing, structured as six separate loans, in fixed and floating-rate structures, through lender Voya Investment Management. The financing replaces existing debt across the portfolio, including four loans originally placed with Voya in 2007.
The properties include Casa Granada in Brentwood (168 units); Meadows South in Culver City (117 units); Mountain Vista in Victorville (400 units); Rancho Los Feliz in Los Feliz (317 units); Sunset Barrington Gardens in Brentwood (183 units); and Villa Vicente in Mid-Wilshire (276 units).