News release

$69.75M financing secured for California multi-housing community

JLL Capital Markets arranged the financing for the acquisition the 164-unit The Vines at Riverpark in Oxnard, California

August 18, 2022

Jenna Sharp

Capital Markets PR
+1 214 438 6450

SAN FRANCISCO, August 18, 2022 – JLL Capital Markets announced today that it has arranged the $69.75 million acquisition financing for The Vines at Riverpark, a 164-unit, two-story, attached townhome community in Oxnard, California.

JLL represented the borrower, Interstate Equities Corporation, to secure a two-year, floating-rate loan through Prime Finance with four one-year extensions.

The property features two- and three-bedroom townhomes with an average size of 1,369 square feet. Units feature private two-car garages, full-size washers and dryers, separate water heaters, central air and heat, front porches or balconies, stainless-steel appliances and granite countertops.

Located at 3040 North Oxnard Boulevard, the property is part of Riverpark, a new, 700-acre, master-planned community that is acclaimed for its open-space planning. The residences of Riverpark are connected through a network of parks, jogging trails, bike paths and playgrounds, all within walking distance of The Collection, a 650,000-square-foot, open-air shopping, dining and entertainment destination. Additionally, residents of The Vines benefit from convenient access to Interstate 101, providing easy connectivity to Los Angeles in one hour, Malibu in 45 minutes and Santa Barbara in 35 minutes.

The JLL Capital Markets Sales and Advisory team representing the seller was led by Senior Managing Directors Peter Smyslowski and Charles Halladay, Director Jonah Aelyon, Associate Spencer Bergthold and Analyst Elijah Lax.

“Vines at Riverpark demonstrates IEC’s unique ability to identify attractive multi-housing investments that yield above market, value-add returns, even in a rising interest rate environment,” said Smyslowski.

“This acquisition presents IEC with an opportunity to provide a single-family home alternative to renters within walking distance to schools, parks and The Collection at Riverpark; a major Lifestyle Center,” said Brendan Gibney, Director at Interstate Equities Corporation. “The Oxnard-Ventura Market has the most severe housing shortage in the United States with an increasingly diverse renter base looking for larger, well-appointed housing with proximity to high-end retail and coastal amenities.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Interstate Equities Corporation

Interstate Equities Corporation (IEC) is a fully integrated owner and operator of value-add apartments in California and Washington. The firm was founded in 1981 and invests via its fund on behalf of private individuals, family offices, pension funds and university endowments. Over the past 35 years, the firm has taken roughly 100 properties full-cycle for its investors, and has completed over $2.1 billion in real estate transactions since 2006.

About Prime Finance

Prime Finance is a private commercial real estate finance company with discretionary capital that directly originates mortgage, mezzanine and preferred equity financing and also acquires performing, sub-performing and distressed debt. With offices located in New York, Chicago and San Francisco, Prime Finance offers a variety of non-recourse loans above $15 million on office, retail, hotel, industrial, multifamily, mobile home, self-storage, student housing, medical office and mixed-use properties in all markets across the United States. Since its founding in 2008, Prime Finance has originated over 600 loans totaling over $18 billion.   Prime Finance is advised by Prime Finance Advisor, L.P., an SEC-registered investment advisor. For further information, visit