August 22, 2019
Newport Beach, CA-based 3G Capital Advisors LLC closed $179.2 million in permanent financing for Watermark J&L Partners, LLC. The loans, originated through Greystone and provided by Freddie Mac, will refinance a portfolio of four multifamily communities with a total of 1,188 units in Arkansas, Colorado and Texas.
Watermark Residential’s Paul Thrift says, “3G Capital provided us a window into new agency financing opportunities that will allow us to redeploy capital more efficiently and effectively.”
The four properties that received the financing include:
– Watermark at Steele Crossing, a 306-unit community in Fayetteville, AR
– Watermark on Harvest Junction, a 276-unit community in Longmont, CO (pictured)
– Watermark on Twenty Mile, a 294-unit community in Parker, CO
– The Ranch at Sienna Plantation, a 312-unit community in Missouri City, TX
Each of the loans are fixed rate, 15-years, with seven years of interest-only payments. Greystone’s PJ McDevitt originated the transaction.
For comments, questions or concerns, please contact Dennis Kaiser