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February 9, 2012

CBRE Capital Markets

Jim Rice and Nick Santangelo of the Portland office of CBRE Capital Markets arranged a $25 million loan to finance acquisition of a 304-unit apartment complex in Kent. The loan was through Freddie Mac's Capital Markets Execution program. The borrower, a joint venture between Holland Partner Group and HPK Multifamily Limited Liability Co., obtained a loan at 80 percent of value/cost, with a 10-year, fixed-rate term at just over 4.2 percent, including two years of interest-only payments. The property sold for $31.5 million and has been renamed Water's Edge.




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