NNC Apartment Ventures secures $46m in refinancing for apartments in Upland, Calif.

NNC Apartment Ventures has secured $46.75 million in refinancing for Arbor Park Apartments, a 260-unit, garden-style multifamily property in Upland, Calif. Berkadia Los Angeles secured the refinancing behalf of the buyer. The deal closed on Oct. 31.

The seven-year loan featured a 4.6 percent interest rate, full-term interest only and a 65 percent loan-to-value ratio.

Located at 859 N. Mountain Ave. in Upland, Calif., the property offers access to major transportation routes and key amenities. Historic Downtown Upland is 1.8 miles away, while Ontario International Airport is 6.2 miles from the property. Additionally, Montclair Place is 2.4 miles away; San Antonio Regional Hospital is 2.0 miles away; and California State Polytechnic University, Pomona, is 9.9 miles from the property, providing significant demand drivers for occupants.