December 1, 2020
Capital One has secured a $43.7 million Freddie Mac adjustable-rate loan to refinance Stratford Ridge, a 446-unit apartment community in Marietta.
Stratford Ridge is a Class B community with a suite of amenities featuring a pool, fitness center, package lockers and controlled-access entrance. Interior renovations include new cabinets, stainless steel appliances and upgraded light fixtures.
Thomas Reynolds of Capital One secured the financing on behalf of the borrower, FCP. The 10-year SOFR-based loan has five years of interest-only payments, followed by amortization on a 30-year schedule. The interest rate is below 3 percent. FCP is a Freddie Mac Select Sponsor and a repeat Capital One customer.
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