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Much media attention has been given to two Fannie Mae loans simultaneously closed by GERSON LAW FIRM APC in September 2013. The following is from one of the articles which appeared in REBUSINESS ONLINE.
CRENSHAW VILLAGE APARTMENTS IN LOS ANGELES RECEIVES $42.5M IN FINANCING
LOS ANGELES – The 669-unit Crenshaw Village Apartments in Los Angeles has received $42.5 million in acquisition financing. The community is located at 4220 Santa Rosalia Drive in the Los Angeles submarket of Baldwin Hills. Upside Investments purchased the Class B/C asset for $60 million. It was built in 1948, and has only undergone minor renovations. Though renovation plans have not yet been finalized, Upside intends to install new appliances and laundry facilities. It will also update the landscaping and add more parking options.