Kelly and Dylag of CBRE place $4.1m loan for Circle Rental Mgmt.

Rosewood Apartment Living - Salem NH

Salem, NH CBRE/New England’s multifamily debt & structured finance group arranged a $4.1 million loan on behalf of Circle Rental Management to refinance the existing debt for Rosewood Apartment Living, a 42-unit multifamily community. The refinance was secured through a local bank. 

CBRE/NE multifamily debt & structured finance group senior vice president/partner, John Kelly and financial analyst Sam Dylag procured financing for Circle Rental Management, the long-time owner of the property.

John Kelly, CBRE New England

Sam Dylag, CBRE/New England

“It was a pleasure to work with the owners on this opportunity. They have thoughtfully managed and maintained this property for a number of years now and we were able to arrange a 10-year fixed rate loan with very attractive terms. The refinance matches their long-term ownership horizon with a low cost of capital.” said Kelly.

Rosewood Apartment Living is located in the central section of town and was originally developed in 1968. There are 7 colonial-style, three-story buildings each containing 6 units situated on 4.62 acres of land. The well maintained buildings positioned in a campus-like cul-de-sac setting with landscaped areas including trees and shrubbery planted throughout.

“We were very pleased with the results of this refinance to lock in excellent terms while interest rates are still near historic lows. CBRE was able to get a local lender to execute on an expedited timeline,” said principal Larry Jacobs.

This apartment community is located minutes away from Exit 1 & 2 off of I-93 in downtown. In walking distance from/to Salem High School, Woodbury Middle School, Salem Boys & Girls Club, Town Hall, and the Kelly Library.