232
NORTHRIDGE, CALIF. – The 447-unit Park Parthenia Apartments in Northridge has received a $32-million refinance. The community is located at 19100 Parthenia Street. It was built between 1962 and 1970.
The property is owned by a private investor with a substantial portfolio of multifamily investment and development assets. The funds will refinance a maturing CMBS loan. The new fixed-rate loan features a 10-year term, 25-year amortization schedule and an interest rate in the low 4 percent range. It was arranged by Scott Clark and Ted Willis of Pacific Southwest Realty Services through one of the firm’s correspondent life insurance company lenders.