ANAHEIM, CALIF. — BLDG Partners has secured a $82 million loan for the acquisition of Park Vista Apartment Homes, a 392-unit affordable housing community in Anaheim. Martin Fayer of NewPoint Real Estate Capital arranged the fixed-rate Fannie Mae loan, which has a seven-year term with five years interest only.
The garden-style community was originally constructed in 1959, then renovated in 2001. The property consists of 93 two-story buildings spread across approximately 20 acres. Park Vista Apartment Homes is affordable to households earning at or below 60 percent of the area median income. Units average 761 square feet in size. Amenities include laundry facilities, a pool, barbeque grill, playground and picnic areas.
BLDG Partners is a Los Angeles-based privately held investment firm that is focused on the preservation of affordable and workforce housing.