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BDMG Secures $67M Fannie Mae Acquisition Loan for Gates of Cipriano

BETHESDA, MD-Capital One provided a $66.7 million Fannie Mae acquisition loan for the $82 million sale.

By Erika Morphy | erikamorphy | | Updated on July 18, 2016
Gates of Cipriano Gates of Cipriano

BETHESDA, More details of the sale of the 591-unit Gates of Cipriano apartment complex last month have emerged. As GlobeSt.com reported last month, the apartment complex traded for $82.3 million, or $139,171 per unit.  The Baltimore-based BDMG acquired the 17-building garden apartment complex from Laramar Group.

Capital One has now announced it has helped  BDMG secure a $66.7 million acquisition loan from Fannie Mae loan to fund the acquisition. The loan has a 12-year term.

Meridian Capital Group’s Abe Hirsch, Jacob Katz and Zev Karpel negotiated the financing on behalf of the borrower.

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