September 11, 2019
Cohen Financial, a division of SunTrust Bank, has secured a $22 million Freddie Mac loan for the acquisition of La Veranda, a 220-unit multifamily property in Lafayette, LA. Built in 2016, the property consists of one-, two- and three-bedroom apartments, as well as a resort-style swimming pool. The community is nearby the University of Louisiana Lafayette.
Cohen Financial secured the loan on behalf of the borrower, an affiliate of Waypoint Residential, a real estate investment firm specializing in the U.S. multifamily sector.
“Freddie Mac and Fannie Mae continue to actively support investors who are acquiring and refinancing properties in tertiary markets across the Southeast,” said Thomas Wiedeman, director at Cohen Financial’s Atlanta office. “Over the past few years, many of our clients have entered these markets in search of multifamily properties with higher yields.”
For comments, questions or concerns, please contact David Cohen
Tags: Apartments & Multifamily