Berkeley Point Capital has provided a $37.7m Freddie Mac loan to Utah-based RealSource for the acquisition and repositioning of the 528-unit, garden-style Antero Apartments in Colorado Springs, Colorado.
The seven-year loan carrying an 80 percent loan-to-value has been priced at 2.9 percent.
ROC Debt strategies also provided $4.3m in private equity to the borrower, according to NGKF Capital Markets, which arranged the loan.
RealSource acquired the property for $47m in May of this year from Real Capital Solutions, a Colorado-based real estate investment firm, marking one of the largest sales of an apartment community in Colorado Springs.
The 437,280 sq ft property’s 528 units are spread across two complexes called Tanager Meadows and Lark Haven at 1432 Sandalwood Drive. The average unit size is about 828 sq ft. The property features amenities like an outdoor pool, fitness center, clubhouse, business center, dog park and playground.
Jordan Roeschlaub, senior managing director at NGKF Capital Markets, led the team that arranged the financing along with Stephen Helfrich.
Berkeley Point Capital, formerly known as Deutsche Bank Berkshire Mortgage, has a servicing portfolio made up of $29bn of loans in 47 states. The lender offers agency loans as well as proprietary products.
In 2014, Fannie Mae provided financing for 446,000 multifamily housing units in loans totaling about $28.9bn, but some experts anticipate that the number could grow more than $10bn this year after the Federal Housing Finance Agency (FHFA) exempted certain affordable housing from previously set $30bn annual origination caps.
If you do not receive this within five minutes, please try to sign in again. If the problem persists, please email: