ANAHEIM, CALIF. — NewPoint Real Estate Capital has provided an $82 million Fannie Mae loan to facilitate the acquisition of Park Vista Apartment Homes, a garden-style affordable housing community in Anaheim. Los Angeles-based BLDG Partners purchased the 392-unit property, which is 100 percent mission with all units being affordable at 60 percent of the area median income or lower.
Martin Fayer of NewPoint originated the fixed-rate loan, which has a seven-year term with five years of interest-only payments.
Originally constructed in 1959 and renovated in 2001, Park Vista consists of 93 two-story buildings spread across 20 acres in southeast Los Angeles. Community amenities include laundry facilities, a pool and barbecue grill, as well as picnic and playground areas.