TUCSON, ARIZ. — MC Companies has received a $49.8 million loan to acquire FHR Portfolio, an eight-property multifamily portfolio in Tucson. The total sales price was $66.7 million.
FHR Portfolio contains a total of 1,576 units throughout a range of studio, one- and two-bedroom floor plans. Some of the properties contain amenities like gyms, clubhouses, swimming pools and laundry facilities.
Notable employers in the Tucson area include Davis-Monthan Air Force Base, University of Arizona and Raytheon.
The seven-year, floating-rate loan features a 2.32 percent interest rate, two years interest-only, a 75 percent loan-to-value ratio and a 30-year amortization schedule. The loan was originated by Clay Akiwenzie of Berkadia through the firm’s Freddie Mac Program.
The seller was Family Housing Resources (FHR). The sale was executed by Berkadia’s Art and Clint Wadlund.