December 3, 2015
CBRE Capital Markets’ Debt & Structured Finance team, based in San Diego, recently secured $100 million in loans for Strata Equity Group’s purchase of a 1,041-unit apartment portfolio in the Seattle area.
Freddie Mac provided five 10-year loans for the transactions, and all were full-term, interest-only. CBRE’s Bill Chiles, Scott Peterson and Brian Cruz brokered the financing.
The five properties are in Seattle’s northern suburbs, and were built between 1986 and 1991. Strata plans to renovate the complexes, many of which already have pools, fitness centers, spas and other amenities.