$6.5 Million — Mobile, AL
CAPITAL ONE CLOSES $6.5 MILLION FANNIE MAE LOAN FOR ALABAMA APARTMENTS
June 8, 2016, BETHESDA, MD – Capital One announced today that it has provided a $6.5 million Fannie Mae fixed-rate loan for the acquisition of Colony Park Apartments, a 201-unit, garden-style community in Mobile, Alabama. Senior Vice President Chad Thomas Hagwood originated the transaction and Brandon Pate of Hagwood’s team managed the deal. Hagwood leads Capital One Multifamily Finance’s Southeast region out of the Birmingham, Alabama, office.
The 10-year fixed-rate loan has 9.5 years of yield maintenance and three-years of interest-only payments, followed by amortization on a 30-year schedule.
The borrower has more than 30 years of commercial real estate experience, and owns 27 multifamily properties totaling more than 4,500 units, located throughout Georgia, Kentucky, New Jersey, North Carolina, Ohio, Pennsylvania, and South Carolina.
“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.