REBusinessOnline

PAC ACQUIRES OXFORD RISE FOR $30.1 MILLION

GLENMOORE, PA. — Preferred Apartment Communities (PAC) has purchased Oxford Rise, a 216-unit apartment community located in Glenmoore for $30.1 million. The community was 94.9 percent occupied at the time of the deal. PAC is funding the purchase with a non-recourse loan provided by Freddie Mac. The financing carries a 7-year term and a floating interest rate priced 277 basis points above the 30-day LIBOR.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
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