PNC ARCS places $9m loan for 140-unit prop. in Santa Maria, Calif.

PNC ARCS, a PNC Real Estate Finance company, has placed $9 million in financing for The Village Townhomes, a 140-unit property. Completed in 1962, The Village Townhomes is a two-story garden style complex on more than 4 acres. Amenities include carport parking and laundry rooms. The loan was for a seven-year term/interest-only at a rate of 5.8%. The loan was originated by PNC ARCS' Calabasas Hills office through Freddie Mac.