Capstone helped refinance Bennington Pond Apartments, a 240-unit apartment property in Columbus. The $12,100,000 loan, had a 10-year term with a fixed interest rate for 9 years and a floating interest rate for the last year. The amortization schedule was 30-years. Freddie Mac won this business due to its competitive pricing, flexible structuring and the positive experience the borrower had with Freddie Mac on previous loans.
Freddie Mac won this business due to its competitive pricing, flexible structuring and the positive experience the borrower had with Freddie Mac on previous loans.
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Sun Life Assurance Company of Canada provided a two-staged $3,800,000 funding for Sagamore Square in Sagamore Hills, Ohio through Capstone. The borrower required part of the proceeds to finance the renovation and expansion of Marc's, a well-known regional discount drug and food market. Marc's is now over 50,000 square feet and is the anchor for the 92,000 square foot shopping center. The loan term is ten years with a 25-year amortization schedule. Sun life won this business due to their flexibility, funding and ease of execution.
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Capstone Realty Advisors arranged refinancing in the amount of $25 million for Wyndham Ridge LTD on Wyndham Ridge Apartments in Stow, Ohio. Freddie Mac provided the financing on behalf of Wyndham Ridge LTD. Wyndham Ridge Apartments is a 504-unit garden-style apartment community that was built in 1998 and completed in 2004. At the time of financing, Wyndham Ridge LTD was 96 percent leased. Amenities include clubhouse, fitness center, and pool. Wyndham Ridge Apartments offers five different floorplans, ranging from 792 square feet to 1,130 square feet.
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