SANTA ANA AND YORBA LINDA, CALIF. — Northmarq has negotiated the refinancing of two properties in Orange County, Villa Del Sol and Yorba Linda Pines. Advanced Real Estate Services owns both properties. Alex Kane, Joe Giordani, Brendan Golding and Alvin Cao of Northmarq’s Newport Beach debt and equity office arranged the combined $142 million cash-out refinance. The deal was structured on a 10-year interest only term. Northmarq secured the permanent-fixed rate loan through its Optigo status as a Freddie Mac lender.
Villa Del Sol is located at 811 S Fairview St. in Santa Ana. The property was built in 1967 and was acquired by Advanced Real Estate Services in 1994. Villa Del Sol offers 562 one- and two-bedroom apartments and two-bedroom townhomes. Unit interiors were recently updated with wood-style flooring and stainless-steel appliances.
Yorba Linda Pines is located at 18700 Yorba Linda Blvd. in Yorba Linda and was built in 1969. Advanced Real Estate Services acquired the 142-unit community in 2003. The property offers two- and three-bedroom townhomes with walk-in closets, quartz countertops, private patios, garage and in-unit washers and dryers.