IPA Capital Markets Arranges $19.6M Acquisition Loan for Age-Restricted Community in California

RANCHO SANTA MARGARITA, Calif. — Institutional Property Advisors Capital Markets (IPA), an affiliate of Marcus & Millichap, has arranged $19.6 million in financing for the acquisition of Buena Vida at Town Center, a 115-unit age-restricted community in the Los Angeles suburb of Rancho Santa Margarita.

The borrower was purchasing the property through a 1031 exchange.

The loan was structured at a fixed rate of 3.25 percent interest with interest-only payments for the first three years, then converting to a 30-year amortization. The term of the loan is 15 years with a 67 percent loan-to-value ratio.

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