NBS Financial Services President Ken Griggs and Finance Officer Paddy Ryan have arranged $26.5 million in acquisition financing for the Remington Apartments, a 344-unit apartment community in Austin, Texas.
NBS
Financial represented the buyer, Walter C. Bowen and BPM Real Estate Group LLC,
a Portland-based owner and manager of apartments and assisted living. Funding
was provided by Fannie Mae through a correspondent relationship of NBS
Financial's.
The
loan was fully leveraged with a 10-year term and 30-year amortization. The
buyer had a tight acquisition timeline, and the loan closed in 48 days.
Remington
Apartments is a Class A, garden-style apartment complex, built in 2007.
No comments:
Post a Comment