{"id":1004035648,"date":"2012-01-09T07:19:03","date_gmt":"2012-01-09T15:19:03","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004035624"},"modified":"2022-12-06T14:28:35","modified_gmt":"2022-12-06T22:28:35","slug":"oak-grove-capital-originates-45m-fannie-mae-loan-for-florida-apartment","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/oak-grove-capital-originates-45m-fannie-mae-loan-for-florida-apartment\/","title":{"rendered":"Oak Grove Capital Originates $45M Fannie Mae Loan for Florida Apartments"},"content":{"rendered":"

January 9, 2012<\/strong>
\nBy Barbra Murray, Contributing Editor<\/em>
\n\"\"<\/a><\/p>\n

Oak Grove Capital’s financing origination spree for apartment properties continues as the mortgage lender completes a $45 million Fannie Mae affordable loan for The Waves, a 488-unit rental community in Plantation, Fla.<\/p>\n

The financing came in the form of a seven-year, fixed-rate mortgage loan with a 30-year amortization schedule. The borrower utilized the proceeds to refinance the existing mortgage loan.<\/p>\n

Oak Grove did not just facilitate the transaction; it facilitated the transaction expeditiously. “For this particular loan, we went from application to commitment in just 35 days,” Tim Leonhard, managing director of affordable housing at Oak Grove Capital, said.<\/p>\n

Oak Grove has had a busy couple of weeks. Most recently, the firm originated $34.2 million in financing through Fannie Mae’s Structured ARM loan program for Mariman & Co.’s acquisition of the 272-unit La Palma Apartments in La Palma Calif. And just before the close of 2011, the firm originated a $46.2 million three-loan debt-financing package<\/a> for Banyan Realty’s purchase of its partner’s interest in a three-property affordable housing portfolio in Florida.<\/p>\n","protected":false},"excerpt":{"rendered":"

Oak Grove Capital’s financing origination spree for apartment properties continues as the mortgage lender completes a $45M Fannie Mae affordable loan for The Waves, a 488-unit rental community in Plantation, Fla.<\/p>\n","protected":false},"author":1201,"featured_media":1004038474,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,21783,21742],"tags":[],"class_list":["post-1004035648","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-investment","category-latest"],"acf":[],"yoast_head":"\nOak Grove Capital Originates $45M Fannie Mae Loan for Florida Apartments - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/oak-grove-capital-originates-45m-fannie-mae-loan-for-florida-apartment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oak Grove Capital Originates $45M Fannie Mae Loan for Florida Apartments\" \/>\n<meta property=\"og:description\" content=\"Oak Grove Capital's financing origination spree for apartment properties continues as the mortgage lender completes a $45M Fannie Mae affordable loan for The Waves, a 488-unit rental community in Plantation, Fla.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/oak-grove-capital-originates-45m-fannie-mae-loan-for-florida-apartment\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-01-09T15:19:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T22:28:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/01\/010912-The-Waves-Plantation-Florida.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"586\" \/>\n\t<meta property=\"og:image:height\" content=\"423\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nicholas Ziegler\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oak-grove-capital-originates-45m-fannie-mae-loan-for-florida-apartment\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oak-grove-capital-originates-45m-fannie-mae-loan-for-florida-apartment\\\/\"},\"author\":{\"name\":\"Nicholas Ziegler\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/ff3a837f33daecfcf8978b405eaae20c\"},\"headline\":\"Oak Grove Capital Originates $45M Fannie Mae Loan for Florida Apartments\",\"datePublished\":\"2012-01-09T15:19:03+00:00\",\"dateModified\":\"2022-12-06T22:28:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oak-grove-capital-originates-45m-fannie-mae-loan-for-florida-apartment\\\/\"},\"wordCount\":188,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oak-grove-capital-originates-45m-fannie-mae-loan-for-florida-apartment\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2012\\\/01\\\/010912-The-Waves-Plantation-Florida.jpg\",\"articleSection\":[\"Featured\",\"Finance\",\"Investment\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oak-grove-capital-originates-45m-fannie-mae-loan-for-florida-apartment\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oak-grove-capital-originates-45m-fannie-mae-loan-for-florida-apartment\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oak-grove-capital-originates-45m-fannie-mae-loan-for-florida-apartment\\\/\",\"name\":\"Oak Grove Capital Originates $45M Fannie Mae Loan for Florida Apartments - 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