PEMBROOK PROVIDES $44M TO WESTERN-BASED MULTIFAMILY, RETAIL PROPERTIES

DENVER – Pembrook Capital Management LLC has provided financing totaling $44.1 million to four Western-based properties. This includes three multifamily properties and one retail property. The 345-unit Villas at Parker Apartments (formerly Windsor Court Apartments) in Denver received $18.3 million in first-mortgage bridge financing; the 218-unit Meridian Apartments project in San Jose, Calif., received $16.5 million in preferred equity investment that will fund its construction; and the 218-unit Lotus Landing Apartments (formerly Azure Park) in Sacramento, Calif., received $5.35 million in first-mortgage bridge financing to fund its acquisition from the court-appointed receiver and to carry out its planned repositioning. The Fashion Outlets of Santa Fe in Santa Fe, N. Mex., also received a $4-million mezzanine loan for recapitalization.