Decron Properties Refinances Simi Valley Garden-Style Community for 82.9 Million Dollars

Decron Properties lands a five-year Fannie Mae loan for the 398-unit River Ranch Apartments in Simi Valley, paying off previous debt in a tightening LA market.

By: AXL Media

Published: Mar 27, 2026, 11:34 AM EDT

Source: https://www.multihousingnews.com/

Strategic Debt Restructuring

The new Fannie Mae loan effectively pays off a $75 million debt package previously held with Signature Bank since 2022. By shifting to a permanent government-sponsored enterprise (GSE) loan, Decron is stabilizing the asset’s capital stack amidst a volatile interest rate environment. The deal was originated by BWE Senior Vice Presidents Jake Roberts and Mike Guterman.

Asset History and Performance

Decron originally acquired the 1985-built community from Aimco in 2012 for $65.3 million. Following a comprehensive renovation in 2016, the property has maintained strong performance metrics:

Occupancy: 93% as of February 2026.

Unit Mix: One-, two-, and three-bedroom floor plans.