Oasis Apartments scores $10.5M from LA lender
Johnson Capital’s Los Angeles office funded $10.5 million in permanent financing for the privately held entity that owns the 125-unit Oasis Apartments in Goleta.
This is the fifth loan Johnson Vice President Kevin Burkhalter has closed in the South Coast area in the past two years.
“In my 25 years in this industry, I’ve never seen this kind of a demand vacuum,” Burkhalter said. “However, the Tri-Counties historically has not suffered from overbuilding, and it’s those barriers to entry that have kept the vacancy rates so low.”