PNC ARCS closes $5.998 million for 66-unit California multifamily property

PNC ARCS, a PNC Real Estate Company, has placed $5.998 million in financing for the Villa Tarzana Apartments, a 66-unit property located on 6000 Etiwanda Ave. Built in 1979, Villa Tarzana is a garden-style apartment complex located in L.A.'s San Fernando Valley. Amenities include on-site leasing office, outdoor pool, spa, tennis courts, and common laundry facilities. The loan was for a 10 year term/30 year amortization at a rate of 5.97%. The loan was originated by ARCS' Calabasas Hills office through Fannie Mae. ARCS is one of America's leading commercial lenders, offering Fannie Mae, Freddie Mac, capital markets, construction, mezzanine and bridge financing.