CBRE Provides $20M Freddie Mac Loan for Refinancing of Vintage Apartments in Houston

by Taylor Williams

HOUSTON — CBRE has provided a $20 million Freddie Mac bridge loan for the refinancing of Vintage Apartments, a 292-unit multifamily community located in the Brookhollow neighborhood of Houston. The 10-year, floating-rate loan is the first to be purchased by Freddie Mac that is indexed by the Secured Overnight Financing Rate (SOFR), the new benchmark rate that lenders use to price loans and the replacement of the London Interbank Offered Rate (LIBOR). According to Apartments.com, Vintage Apartments was built in 1972 and offers studio, one-, two- and three-bedroom units, as well as a pool, playground, outdoor grilling area and onsite laundry facilities. The borrower was not disclosed.

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