George Smith Partners Secures $41M for the Vineyards Apartments in Colorado Springs
COLORADO SPRINGS, COLO. — George Smith Partners has arranged $41 million in acquisition financing for the Vineyards, a 300-unit apartment community in Colorado Springs. The community is located at 4350 Mira Linda Point.
The private real estate investment and development company that purchased the asset plans to renovate all units and upgrade the community’s landscaping and on-site amenities, including the clubhouse, fitness center, leasing offices and business center.
The non-recourse loan features a fixed 4.31 percent interest rate with nine years of interest-only payments. George Smith Partners’ Jonathan Lee arranged the financing, which Walker and Dunlop provided.