CAPMARK FINANCE FINANCES FOUR APARTMENT COMMUNITIES

AUSTIN, TEXAS — Capmark Finance has originated a total of $6 million in fixed-rate, non-recourse financing for four Austin multifamily properties. The apartment communities total 235 units and are all located within approximately 1 mile of each other in the West Campus neighborhood of the University of Texas. They consist of Penthouse Apartments, 24 Flats, Park Plaza Apartments and The Willows. The loans have a 25-year amortization schedule and a 5-year term. Brant Smith and Andy Hill of Capmark’s Houston office originated the financing. The borrower for Penthouse Apartments and 24 Flats was Triple Play Properties, Ltd.; the borrower for The Willows was Bouldin Willows Apartments LP; and the borrower for Park Place was WinfloPark LP. All of the companies are affiliated of the Austin-based owner of the apartment communities. The lender was Freddie Mac.