ORLANDO—Abbey Residential just secured a $112.75 million loan to refinance three multifamily assets in Texas. CBRE Capital Markets Orlando arranged the permanent, fixed-rate financing.
The fixed rate mortgages were rate locked and closed simultaneously as separate transactions. Terms were 75%–80% LTV, sub 4% fixed rates on 10-year loan terms, including three years interest only, 30-year amortization schedules, and DSC ratios in the 1.35–1.40x range.
CBRE senior vice president Glenn Housman led the team in representing long-time client Abbey Residential. The loans were arranged via Freddie Mac’s CME program.
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