News: Financial Digest
Posted: December 9, 2009
Riccio, Kubas and LaChapelle of CBRE secure $27.37 million financing
Senior vice president Michael Riccio, and vice president Christine Kubas of CBRE Capital Markets Debt & Equity Finance division in Hartford, Conn. along with executive vice president Robert LaChapelle of CBRE Capital Markets Debt & Equity Finance division in Atlanta, Ga have secured permanent, floating-rate financing totaling $27.37 million on behalf of CH Realty IV/Woodstock, LLC, an affiliate of Dallas-based Crow Holdings.
The interest rate floats over the 1-month Freddie Mac Reference Bill on a 7-year term under the Freddie Mac capped ARM Program via CBRE's in-house Freddie Mac seller/servicer division.
The property, Alta Woods Apartments, contains 498-units in 19, two and three story class A residential buildings. The property features two swimming pools, two lighted tennis courts, a putting green, community building with fitness center, and garage parking. The property was developed in two phases in 2000 and 2002.
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