Cushman & Wakefield announced that the commercial real estate services firm has arranged a $75 million refinance loan on behalf of Middleburg Communities for a three-property apartment community portfolio totaling 1,154 units.
Blake Cohen, Mike Ryan, and JP Cordeiro of Cushman & Wakefield’s Equity, Debt & Structured Finance team secured the two-year loan through Synovus.
The properties in the portfolio include:
- Vesta Adams Park, a 298-unit apartment community located at 1991 Delowe Drive SW in Atlanta. The property is 96 percent leased and includes an average unit size of 1,035 square feet.
- Vesta Bouldercrest, a 438-unit apartment community located at 26 Bouldercrest Lane SE in Atlanta. The property is 95 percent leased and includes an average unit size of 808 square feet.
- Vesta Derby Oaks, a 418-unit apartment community located at 3237 Utah Avenue in Louisville, Kentucky. The property is 88 percent leased and includes an average unit size of 724 square feet.