Tim White, president of ARCS Commercial Mortgage Co., has completed $15.1 million in financing for the Palo Alto Apartments, a 92-unit property.
Built in 1959, Palo Alto Apartments is a garden style community currently undergoing a $3.1 million renovation. Common amenities include two barbecue areas, two laundry facilities, picnic areas and two pools.The loan was originated by ARCS' San Francisco Office. The loan was for a 9 year term with an optional 10th year that would convert to an ARM.