D2 Capital Advisors Secures $6.3M Loan for Multifamily Community
D2 Capital Advisors Achieves Successful Loan Closure
D2 Capital Advisors has proudly announced the successful closing of a $6.3 million permanent loan through Fannie Mae, aimed at supporting a recently renovated 46-unit multifamily community. This vibrant community promises residents modern living standards and a welcoming atmosphere.
Loan Structure and Benefits
The loan was originated via Arbor Realty Trust under the Fannie Mae Small Balance Loan program. It features an attractive 7-year term that includes a period of two years with interest-only payments. The financing facilitates the refinancing of existing debt while allowing the owners to recoup some equity.
Client Testimonials
Jack Cortese, Vice President at D2 Capital Advisors, noted, "This was a fantastic outcome for our client. We structured a non-recourse loan that not only lowered the cost of capital for the borrower but also maximized proceeds based on the property’s impressive performance and lease-up success."
Project Overview
Wayne Everett, Chief Investment Officer at SC Capital, also commented on the project, stating, "This deal was a seamless and competitive process that yielded cash-out proceeds far exceeding our initial expectations. This financing underscores our commitment to well-located suburban properties, as we strive to develop operational scale while delivering consistent, risk-adjusted returns for our investors."
Description of the Property
The property is a garden-style community comprising four free-standing residential structures, offering a mix of one- and two-bedroom units. The buildings, originally from the 1960s, have undergone comprehensive renovations that include modern kitchens, updated bathrooms, new flooring, and enhanced mechanical systems. Residents benefit from private entrances, off-street parking, and convenient access to on-site laundry facilities.
Excellent Location
This community offers excellent accessibility, located near major highways and transport hubs, providing easy connectivity for residents.
Company Background: D2 Capital Advisors
D2 Capital Advisors serves as a full-service real estate capital advisory firm, boasting over $750 million in closed transactions. They focus on structuring and arranging commercial real estate financing for developers and investors nationwide, showcasing their extensive expertise in the industry.
About SC Capital
SC Capital, the transaction's sponsor, is known for its vertical integration within the real estate investment sector. The firm has amassed over $150 million in assets under management, representing 30+ properties and more than 1,200 apartment units across various locations.
Frequently Asked Questions
What is the amount of the loan arranged by D2 Capital Advisors?
The loan arranged is a $6.3 million Fannie Mae permanent loan.
How long is the term of the loan?
The loan features a 7-year term with two years of interest-only payments.
What benefits does this loan provide to the property owners?
This loan allows for the refinancing of existing debt while enabling owners to retrieve equity from the property.
Who is the Vice President of D2 Capital Advisors?
Jack Cortese holds the position of Vice President at D2 Capital Advisors.
What type of properties does SC Capital invest in?
SC Capital specializes in the acquisition, development, and management of high-quality multifamily real estate.
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