Economic slowdown due to the coronavirus epidemic didn't stop Orion Residential Properties from thinking long-term and refinancing their portfolio of four apartment complexes in North Texas for $181.54 million.
"The refinance was critical to our long-term strategic plan for the portfolio," said Dan Gumbiner, Orion president and CEO. "We were determined to complete the transaction despite the current environment."
Previously, Orion Residential Advisors had four variable-rate Freddie Mac loans on the property in 2016.
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