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Aliso Creek Bags Big Refi

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Aliso Creek Bags Big Refi

The 535-unit Aliso Creek Apartments in Aliso Viejo received a $140M refi, which will go to pay off tax-exempt bonds and two subordinate deeds while providing working capital for renovation of formerly rent-restricted units in the property, GlobeSt reports. NorthMarq Capital EVP Michael Elmore arranged the loan for an unnamed borrower. Reportedly, the borrower is planning more than $4M in interior renovations at the property.