COLUMBUS—Prudential Mortgage Capital Company provided a $26 million Freddie Mac loan to Edwards Companies to refinance Arlington Park Apartments, a 284-unit apartment community in suburban Hilliard, OH. Prudential Mortgage Capital Company is the commercial mortgage lending business of Prudential Financial, Inc.
“The quality and location of the property coupled with the strength and reputation of the sponsor made this an attractive transaction,” says Chuck Meyer, a Columbus-based principal with Prudential's multifamily originations team, who led the transaction. “We look forward to expanding our relationship with Edwards Company and supporting their efforts in the multifamily and student housing markets.”
Meyer, who recently joined Prudential, notes that Arlington Park's location in the affluent suburban community of Mill Run also helped.
Completed in 2010, Arlington Park's class A units include granite countertops, brushed nickel hardware and lake views in certain apartments. Amenities include a resort-style pool, game room, movie theater, business center, valet dry cleaning and 24-hour emergency maintenance.
“The neighborhood's walkable, urban feel and character with nearby dining, recreation and services are some of the features that drive many to rent today as the project's strong occupancy since its 2010 completion,” Meyer adds.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
