REBusinessOnline

Juniper Capital Arranges $14M Acquisition Loan for Syracuse Apartments

Orchard-Estates-Syracuse

Orchard Estates in Syracuse totals 300 units. The property was 85 percent occupied at the time of the loan application.

SYRACUSE, N.Y. — New York City-based Juniper Capital has arranged a $14 million bridge loan for the acquisition of Orchard Estates, a 300-unit apartment complex in Syracuse. The property, which was 85 percent occupied at the time of the loan application, offers units in a variety of formats and amenities such as a pool, picnic area and onsite laundry facilities. Arbor Realty Trust Inc. originated the loan, which carries a three-year term and an 85 percent loan-to-cost structure. The borrower, New Jersey-based Vintage Management, will use a portion of the proceeds to fund capital improvements to unit interiors and add new amenities.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.



Related News

Conferences