At a glance
- The new debt replaces existing financing across the portfolio, including four Voya loans from 2007.
- Across 1,461 units, the financing works out to a bit more than $65,500 a unit.
- Greater Los Angeles multifamily vacancy held at 4.5 percent through the first half of the year and average rent stayed slightly below year-earlier levels, according to Northmarq's most recent numbers.
E&S Ring has refinanced a 1,461-unit Southern California apartment portfolio with $95.8 million from Voya Investment Management, Northmarq announced Thursday.
The new debt replaces existing financing across the portfolio, including four Voya loans from 2007. Northmarq's Nathan Prouty, Andrew Slaton and John Holt worked the deal, which is structured as six non-cross-collateralized loans and carries a mix of fixed- and floating-rate debt, interest-only payments and prepayment provisions.
Across 1,461 units, the financing works out to a bit more than $65,500 a unit.
Greater Los Angeles multifamily vacancy held at 4.5 percent through the first half of the year and average rent stayed slightly below year-earlier levels, according to Northmarq's most recent numbers. Those figures also show more than 40 percent more properties traded in the first half than in the same period of 2025.
| Property | Submarket | Units |
|---|---|---|
| Casa Granada | Brentwood | 168 |
| Sunset Barrington Gardens | Brentwood | 183 |
| Meadows South | Culver City | 117 |
| Mountain Vista | Victorville | 400 |
| Rancho Los Feliz | Los Feliz | 317 |
| Villa Vicente | Mid-Wilshire | 276 |
Reported by the RE Debt desk from Commercial Observer. Published . Corrections