|Deal Type||Freddie Mac|
KeyBank Real Estate Capital (KBREC) secured $88 million of fixed-rate Freddie Mac financing for Peak Capital Partners to refinance three multifamily properties in three states:
- $35.4 million for the 219-unit Foothills Park Apartments in Arvada, Colo.;
- $26.6 million for the 276-unit Hickory Trace Apartments in Antioch, Tenn.; and
- $26.1 million for the 276-unit Links at Citiside in Charlotte, N.C.
Foothills Park Apartments, built in 1987, is comprised of 19 three-story buildings on 6 acres of land. The property’s amenities include a swimming pool with sundeck, picnic area, courtyard and carports. Units are available in studio, one- and two-bedroom configurations.
Hickory Trace Apartments, built in 1984, is comprised of 13 two-story buildings on 21 acres of land. Amenities include a fitness center, swimming pool, tennis court, pet park and playground. Units are available in studio, one-, two- and three-bedroom configurations.
Links at Citiside, built in 2001, is comprised of 17 three-story buildings on 19 acres of land. Amenities include a fitness center, business center, clubhouse with resident lounge, pool with an outdoor kitchen, sundeck, pet park, playground and picnic area. Units are available in one-, two- and three-bedroom configurations.
Based in Provo, Utah, Peak Capital Partners is a real estate investment firm that acquires, owns and manages conventional and affordable multifamily properties as well as student housing properties in the United States. The company has owned Foothills Park since 2010, Hickory Trace since 2013 and the Links at Citiside since 2011.
The three loans are structured with 10-year terms with five-year interest-only periods.