$56.7 Million — Orange City, FL
CAPITAL ONE CLOSES FREDDIE MAC LOANS TOTALING $56.7 MILLION FOR FLORIDA APARTMENTS
August 17, 2016, BETHESDA, MD — Capital One announced today that it has provided Freddie Mac fixed-rate loans totaling $56.7 million for the acquisition of Integra Landings and Integra Woods apartment communities. Integra Landings’ 270-units are located in Orange City, Florida, equidistant between Daytona Beach and Orlando. Integra Woods’ 310-units are located midway between St. Augustine and Daytona Beach in the Atlantic Ocean town of Palm Coast, Florida. Senior Vice President Chad Thomas Hagwood, who leads Capital One Multifamily Finance’s Southeast region from its Birmingham office, originated both transactions and Brandon Pate managed the deal process.
The borrower is a community-focused, growth- and value-oriented owner, investor, and asset manager/operator of market rate conventional multifamily housing. This is its seventh transaction with Capital One.
Landings, built in 2008 and Woods a year later, are both Class A properties that were developed and maintained by the seller. Both fixed-rate loans have 10-year terms, with four years of interest-only payments followed by amortization on a 30- schedule. The transaction closed in 52 days from application to funding.
“The Capital One CRE team consistently demonstrates expertise and passion—that commitment translates into creativity, responsiveness, and optimizing the timing and structure of each transaction.”
Michelle Lord, Vice President of Capital Markets, Fairfield Residential Company LLC
*Beech Street is now Capital One Multifamily Finance and our commitment to customer service is even stronger.
Capital One Multifamily Finance is distinguished by its ability to structure multifamily mortgages customized to the precise needs of its clients. We are a Fannie Mae DUS® lender, a Freddie Mac lender, and a FHA HUD lender. Plus, we offer balance sheet financing backed by the full strength of Capital One Commercial Banking. You can count on our team of multifamily mortgage makers to deliver apartment financing smoothly, quickly, and with certainty.