Lake Cameron Apartment Homes

Overview

Deal Type Agency Lending
Size $46.4 Million
Freddie Mac Fixed Rate Loan

Summary

The transaction includes a $46.4 million ($141,494/unit) non-recourse, first mortgage loan secured by a 328-unit, garden style apartment complex known as Lake Cameron Apartment Homes in Apex, North Carolina. Built in 1999, the property is comprised of 14, three-story residential buildings, eight detached garage buildings, one of which is utilized for maintenance, and a clubhouse with leasing office and fitness and laundry facility. The property is situated on 23.94 acres of land. The proposed loan will be used for acquisition of the property. The loan is structured with a five-year interest only term.

KBREC page disclosure

Banking products and services are offered by KeyBank National Association. All credit products are subject to collateral and/or credit approval, terms, conditions, and availability and subject to change.

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