Los Angeles owners often ask about rent rules before they ask about the coupon. Arizona Revised Statutes section 33-1329 says the Legislature preempts cities and towns, including charter cities, from controlling rents on private residential housing. The same section says that preemption does not apply to residential property owned, financed, insured, or subsidized by the state or by a city or town. Los Angeles rent stabilization is a different regime and generally covers older private rentals, including many with a certificate of occupancy from before October 1978. We are not giving a legal opinion on either set of rules. We read the Phoenix rent roll the lender will read.
The loan is on a City of Phoenix apartment community. Stabilized product can be Fannie Mae, Freddie Mac, or HUD, placed with the lender who executes the program. Capital Market Funds is not a Fannie Mae DUS lender and not an Optigo Seller/Servicer. We do not claim MAP or LEAN approval. Harvard Court is the only published Phoenix apartment card, a $1,350,000 cash-out, and it does not name an agency. It is not a term sheet for a Los Angeles buyer. There is no California office. The desk is 7373 E Doubletree Ranch Rd #255, Scottsdale, AZ 85258.
Agency execution without a DUS claim
If the Phoenix community is a permanent file, we arrange Fannie Mae or Freddie Mac Optigo financing and place the Freddie Mac loan with an Optigo Seller/Servicer, who makes it. HUD 223(f) is the refinance path when the process fits, with a HUD-approved lender. We are not those parties. The chooser is Phoenix agency. The property page is Phoenix multifamily.
A value-add or a lease-up that agency will not take today is bridge, with the takeout named. We do not call that a California bridge, and we do not fund it on our paper.
Los Angeles is the buyer's city, not the collateral
Scottsdale is not a Los Angeles branch, and Phoenix is not a submarket we cover under a California license. Any question about soliciting California residents belongs with counsel. This page states that the building is in Arizona.
Broader California sponsorship, including assets that are not apartments, starts at California investors. Call (480) 495-8072 with the Phoenix unit mix.
Phoenix apartment executions for a Los Angeles buyer
| Source | When it fits |
|---|---|
| Phoenix multifamily | Harvard Court is the only published Phoenix apartment card, and it is not labeled agency. |
| Phoenix agency | Fannie Mae, Freddie Mac, or HUD through the executing lender. Not DUS. |
| Agency | Statewide agency rules. We are not the GSE. |
| California investors | Any Arizona asset, not only Phoenix apartments. |