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CAPMARK SECURES $32.5 MILLION FOR REFINANCING OF THE HIGHLANDS APARTMENTS

OKLAHOMA CITY — Capmark Finance has arranged $32.5 million for the refinancing of The Highlands Apartments, an 896-unit, Class B multifamily community located at 12701 N. Pennsylvania Ave. in Oklahoma City. Situated on 40 acres, the community comprises 98 buildings, with an average monthly rent of $590. The property was 98 percent occupied at the time of closing. Stewart Campbell of Capmark’s New York City office secured the financing through Freddie Mac by way of the Freddie Mac Capital Markets Execution product. Terms of the loan include a 6.3 percent fixed interest rate, an 80 percent loan-to-value ratio, and a 10-year term with 2-years interest only, followed by a 30-year amortization schedule. The borrower was undisclosed.

Content Partners
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