A refinancing loan of $65 million was arranged by Marcus & Millichap for a portfolio of four apartment buildings – three in North County and one in La Mesa.
The owner of the property was not disclosed.
The loan was structured with an interest rate of 3.25% over a 10-year term amortized over 30 years.
Chad O’Connor, senior managing director, Capital Markets in Marcus & Millichap’s San Diego office arranged the financing.
The buildings are in Vista at 172 Durian St., in San Marcos at 420 Smilax Road, in Escondido at 301 West Vermont St., and in La Mesa at 8515 Chloe Ave.