Finance Q Kentucky

CBRE closes $56 million in acquisition loans for trio of apartment communities

CBRE closes $56 million for three apartment communities,ph01

CBRE Capital Markets’ Debt & Structured Finance team has arranged $56.9 million in financing for three apartment communities located in the Southeast and Mid-Atlantic region, including one in Lexington, Kentucky.

Bill Chiles, Scott Peterson and Brian Cruz of CBRE secured the floating-rate loans on behalf of Strata Equity Group for acquisition of the properties. The loans were funded by Freddie Mac through an expansion of an existing credit facility structured by CBRE.

Included in the transaction was The Racquet Club community. This community includes 474 units and is located in Lexington.