Loan Supports Santa Clarita Apartments Purchase for $3.6 Million

A Santa Clarita apartment complex has changed hands with help from iBorrow, the new name for the L.A.-based direct real estate lender formerly called Eagle Group Finance. The company said it has loaned $3.1 million toward the purchase and renovation of the complex located at several addresses, including 24379 Chestnut and 22814 9th streets. Edward Choi, president of L.A. mortgage lender Amherst Real Estate Capital Inc., took out the loan to help finance his personal acquisition of the four-building complex and to renovate the interiors, he said. Choi bought the properties this month for nearly $3.6 million. The complex, built in 1955, consists of 16 one- and two-bedroom units, four garages and additional parking spaces.