JLL Arranges $35M Loan for Refugio Apartments in Santa Maria, California
SANTA MARIA, CALIF. — JLL Capital Markets has secured a $35 million loan to facilitate the refinancing and completion of Refugio Apartments, a 125-unit rental townhome community in Santa Maria. Annaly Capital Management provided the loan to the borrower, Dynamic Development Co.
Situated on seven acres at 270 W. McCoy Lane, Refugio Apartments comprises seven stucco buildings with 125 luxury townhomes rentals. The two- and three-story units offer three bedrooms, at least 2.5 bathrooms, balconies, attached two-car garages and private backyards in select units. Community amenities include a 3,000-square-foot recreational center with a resort-style swimming pool, year-round spa, barbecue area, business center and resident clubhouse with built-in fitness center.
Residents already have taken occupancy in completed portions of Refugio Apartments, with final completion scheduled for June 2019.
Aaron Niedermayer, Reid McGlamery, Brian Buglione and Brandon Krupetsky of JLL arranged the financing.