Decron lands $83M Fannie Mae financing for Simi Valley apartments
Decron Properties scored more than $80 million in refinancing for an apartment complex in Ventura County. The Los Angeles-based firm received an $82.9 million refinancing loan for the River Ranch apartments at 1518 Patricia Avenue in Simi Valley, Multi-Housing News reported. Fannie Mae provided the five-year fixed-rate loan for the 398-unit garden-style community. The Fannie Mae financing will enable Decron to pay off existing bank debt for the property. Decron previously secured a $75 million loan from Signature Bank in 2022. The firm purchased River Ranch from Aimco in 2012 for $65.3 million, according to Yardi Matrix data cited by […]This article originally appeared on The Real Deal. Click here to read the full story.
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