REBusinessOnline

CAPMARK ARRANGES $32.1 MILLION LOAN FOR PORTFOLIO PURCHASE

HOUSTON — Capmark Finance has originated $32.1 million in floating-rate, interim financing for the acquisition of a five-property, 1,265-unit multifamily portfolio located in Houston. The loan carries a 2-year term with two 1-year extension options and a 75 percent loan-to-value ratio. The terms of the loan also provide for partial collateral releases in case the borrower decides to sell properties from the portfolio. Brant Smith and Andy Hill of Capmark’s Houston office originated the transaction. The undisclosed borrower plans to use the loan proceeds to upgrade and renovate the properties.

Content Partners
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