River Ranch Apartments in Simi Valley just landed a serious financial reset, with owner Decron Properties closing an $82.9 million refinance that keeps the 398-unit complex firmly in its portfolio.
The deal comes in the form of a five-year, fixed-rate Fannie Mae loan that will pay off existing bank debt and pull out cash to support ongoing operations at the property. In plain English, Decron is swapping out its old loan, tapping some equity, and leaning on agency capital to back what is essentially a stabilized suburban asset.
According to Yield PRO, the $82.9 million financing was structured as a five-year, fixed-rate Fannie Mae loan arranged by Jake Roberts and Mike Guterman of BWE’s Los Angeles office. The outlet reports that this marks the lowest agency rate BWE has locked in more than three years, which helps explain why Decron chose this moment to refinance.
Property details and amenities
River Ranch sits at 1518 Patricia Ave, just south of the 118 Freeway and east of First Avenue, giving it a suburban but commuter-friendly address. The garden-style community offers one, two and three bedroom floor plans outfitted with stainless steel appliances, granite countertops and private patios or balconies.
The community listing from Decron Properties highlights on-site amenities that include a pool, dog park, resident clubhouse and a modern fitness center. Those features help the 398-unit, garden-style complex hold its own against newer product in the Ventura County rental market, even though the property itself was built in 1985.
Yield PRO notes that River Ranch underwent a renovation in 2016, a combination of vintage build and relatively recent upgrades that tends to be attractive to agency lenders.
What the refinance means
The refinance proceeds will retire existing bank debt and provide cash out to support operations, according to Yield PRO. That structure fits a common playbook for multifamily owners who want to lock in agency pricing while still preserving flexibility for the next few years.
The five-year term is designed to give Decron breathing room. With no bridge financing deadline looming, the company has time to manage occupancy levels and address capital needs at a measured pace rather than rushing to recapitalize again in the short term.
Decron’s regional activity
Decron has not been shy about trading in Simi Valley. The firm sold 504 apartments across two properties in the city in 2021, according to The Real Deal. In that context, holding onto River Ranch with fresh long-term debt instead of immediately bringing it to market sends a clear signal that Decron intends to keep the community operating and funded for now.
The industry announcement was published on March 20, 2026, and additional details may surface if Decron or the loan arrangers release formal statements or regulatory filings.
