$66.7 Million — Greenbelt, MD
CAPITAL ONE CLOSES $66.7 MILLION FANNIE MAE LOAN TO FINANCE ACQUISITION OF GREENBELT, MD MULTIFAMILY PROPERTY
July 18, 2016 BETHESDA, MD – Capital One announced today that it has provided BDMG a $66.7 million Fannie Mae loan to fund its acquisition of Gates of Cipriano, a 591-unit apartment complex in Greenbelt, Maryland. The loan has a 12-year term.
Meridian Capital Group Senior Managing Director Abe Hirsch and Managing Directors Jacob Katz and Zev Karpel negotiated the financing on behalf of the borrower, working with the Capital One Multifamily Finance team.
“The Gates of Cipriano is well-situated to take advantage of the exciting development proposed for the area surrounding the Greenbelt Metro Station,” said Grace Huebscher, President of Capital One Multifamily Finance. “This prime location and our excellent working relationship with Meridian Capital and Fannie Mae helped us to create a tailored financing solution that met BDMG’s needs for its acquisition of the complex.”
Located at 8501 Greenbelt Road, Gates of Cipriano is minutes from I-95 and 295 and a short distance from Washington, D.C. It’s also across the street from NASA’s Goddard Space Flight Center.
“It was a pleasure working with Meridian and Capital One in order to facilitate the loan in an expedited fashion,” said BDMG President Avi Bernstein.
“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.