Capital One Closes $53.4M Refinancing of Four Apartment Communities in the Carolinas

NEW YORK — Capital One has provided four loans totaling $53.4 million for the refinancing of four apartment communities in North Carolina and South Carolina. Capital One provided the loans to Brookfield Strategic Real Estate Partners Fund, which used the loans to repay existing CMBS debt on the properties, according to Capital One. The refinanced assets in North Carolina include the 252-unit Chason Ridge in Fayetteville and the 194-unit Bridges at Mallard Creek in Charlotte. Brookfield received loans of $9.5 million and $11.1 million, respectively, for those assets. In South Carolina, the refinanced properties include the 240-unit Waverly Place in North Charleston and the 232-unit Paces Watch in Mount Pleasant. Brookfield received loans for $12.7 million and $20.6 million, respectively.