Multifamily Investors Lock In Debt While Rates Are Low
United Development Group locks in long-term debt on an apartment acquisition to take advantage of the low rates.
Mark McGovern, Brian Cruz and Morgon Fraser of CBRE debt and structured finance team in the firm’s San Diego office arranged the ten-year fixed rate loan through Fannie Mae.
The property is located near Downtown Fresno and near local amenities, like shopping centers and grocery stores. It features onsite fitness center, business center, kids park, swimming pool, barbecue areas, covered parking and four laundry facilities.