Search
 

Eliason Buys 484 Units With $25M Financing

CONYERS, GA-With $25 million in financing provided by Barclays Capital, the St. Germain, WI-based company acquires the Lake St. James Apartments here.

By Natalie Keith | Updated on December 18, 2007

(Read more on the multifamily market and more on the debt and equity markets.)

CONYERS, GA-St. Germain, WI-based Eliason Inc. has acquired the 484-unit Lake St. James Apartments at 50 St. James Dr. with $25 million in acquisition financing. The first-mortgage financing was provided by Barclays Capital and carries a 6.2% initial coupon and four years interest-only followed by a 30-year amortization schedule.

CB Richard Ellis Capital Markets Group managing director Keith Braddish and VP Jason Gaccione, based in New York City, secured the financing. The loan funded a portion of the acquisition price, which was not released, Gaccione tells GlobeSt.com. “The property is well occupied, it was a solid deal and Eliason, which owns other assets in the area, is very familiar with the market,” he says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.