Newmark has arranged a $58 million Fannie Mae loan for Everleigh San Clemente, a newly built active-adult apartment community in San Clemente. The Class A, age-restricted (55+) property comprises 150 units and is described as a high-quality asset in a coastal location with limited new supply. The financing was secured on behalf of an institutional-level joint venture that owns the community.
The Newmark debt team included vice chairman Lee Redmond, managing director Alec Newman and vice president Nick Schroeder. Working together, the trio sourced the agency loan to meet the borrower's capital needs while taking advantage of strong lender appetite for well-located, purpose-built active-adult housing. The transaction underscores the role of Fannie Mae in providing liquidity to specialized multifamily segments such as age-restricted rental communities.
Redmond noted that Everleigh San Clemente offered a rare chance for lenders to finance a newly delivered, institutionally constructed active-adult property in an especially desirable coastal market. He cited the sponsorship profile, construction quality and the project's position within a supply-constrained submarket as key drivers of competition among lenders and the ability to secure favorable loan terms for the borrowing joint venture.
Completed in 2023, Everleigh San Clemente is situated in one of Orange County's most sought-after residential areas, according to Newmark. The location provides residents with access to coastal amenities and established neighborhoods, while also positioning the asset to benefit from ongoing large-scale investment in the surrounding region.
Newmark highlighted the property's proximity to the revitalization of nearby Dana Point Harbor, a redevelopment initiative totaling more than $600 million. That project is intended to upgrade and expand one of Southern California's premier coastal destinations, which could enhance the broader appeal of the area over time. For Everleigh San Clemente, this long-term public and private investment in coastal infrastructure and amenities is expected to support the community's positioning within the local multifamily and active-adult market.
The financing of Everleigh San Clemente illustrates continuing capital markets interest in stabilized, institutionally developed multifamily assets serving the active-adult demographic. By pairing a Fannie Mae execution with an experienced institutional joint venture sponsor, the deal reflects how agency lenders and borrowers are aligning to capitalize on demand for age-restricted rental housing in high-barrier coastal markets.
