Commercial real estate finance firm Greystone has provided $105,780,000 in Freddie Mac refinancing for two residential communities in El Cajon, California. The transaction encompasses 476 units across the Colonnade at Fletcher Hills and Forest Park at Fletcher Hills properties.

Clint Darby and Andrew Remenschneider originated the debt package on behalf of owner Bridge Investment Group. Managing Director Spencer Dunlop directed the debt financing team for the borrower, supported by BMO as correspondent.

The combined debt package comprises two separate Freddie Mac loans. A $32.3 million loan covers Colonnade at Fletcher Hills, a 138-unit residential site. The remaining $73.5 million loan finances Forest Park at Fletcher Hills, a 338-unit community.

Both garden-style sites are located in the Fletcher Hills area of El Cajon. The properties have undergone substantial capital improvement schemes in recent years, offering residents on-site facilities alongside road links to employment hubs and shopping destinations across the San Diego metropolitan area.

“Freddie Mac continues to provide an attractive execution for well-located multifamily assets with experienced sponsorship,” said Mr. Darby. “We were pleased to help Bridge Investment Group secure long-term financing solutions for these two communities, positioning the properties for continued success while supporting the borrower’s long-term investment strategy.”

The deal strengthens the long-term capital structure for the assets as institutional investors continue to back San Diego multifamily real estate.