REBusinessOnline

HFF Arranges $13.4M Acquisition Loan for Apartment Complex in Norfolk, Virginia

The Gates at West Bay Apartments comprises 10 two-story buildings and was 95 percent occupied at the time of the sale.

NORFOLK, VA. — HFF has arranged a $13.4 million acquisition loan for The Gates at West Bay Apartments, a 202-unit community in Norfolk. The 10-year, fixed-rate Freddie Mac loan includes five years of interest-only payments. The borrower was a partnership between Brick Lane and Enterprise Community Investment Inc. The Gates at West Bay Apartments comprises 10 two-story buildings and was 95 percent occupied at the time of the sale. Of the 202 units, 99 percent are affordable to low-income units.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.



Related News

Webinars on Demand


Conferences


Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties