EL SEGUNDO, Calif.--(BUSINESS WIRE)--Venture West Funding, Inc., a mortgage company headquartered in El Segundo, CA, announced it has arranged a $24.70 million loan for the refinance of Ventura Townehouse in Ventura, CA. Ventura Townehouse is a luxury retirement living community with comprehensive resident services. It is considered “California’s Crown Jewel in Retirement Living”. The complex features 299 units with fine dining options, on-site entertainment & fitness programs, a wellness center, beauty salon, and much more. Assisted living, memory care, and respite care services are available to residents.
Jean-Marc Herrouin of Venture West Funding arranged the financing through Walker & Dunlop. The non-recourse 10-year fixed rate loan includes two years interest only. According to Mr. Herrouin, "We strategically structured the loan with a shorter pre-payment penalty to provide the borrower with refinance flexibility while also securing a long-term fixed rate. The transaction was complex because the community has many senior living uses and is master leased to an experienced operator. The lender was diligent about listening to the borrower’s needs to develop a creative financing solution."
Venture West Funding was founded more than 20 years ago and has placed over $10 billion in loan originations since 2001. Venture West Funding is one of the largest firms of its kind operating throughout Southern California and specializes in providing mortgage loans secured by apartment buildings, commercial properties and single-family homes to a wide variety of borrowers. Venture West Funding is headquartered at 2301 Rosecrans Avenue, Suite 3170, El Segundo, California 90245 (310.706.4450). The firm also maintains a full-service office in Orange County at 27184 Ortega Highway, Suite 200, San Juan Capistrano, California 92675 (949.218.4002).