Capmark Finance Originates $23,425,000 for Refinance of Autumn Chase Apartments

Capmark Finance Inc. originated $23,425,000 in floating-rate debt through its Freddie Mac Capped ARM program for the refinance of Autumn Chase Apartments, a multifamily property in Ellington, Conn.

Ellington, CONN (Vocus) November 20, 2008 -- Capmark Finance Inc. (Capmark Finance) originated $23,425,000 in floating-rate debt through its Freddie Mac Capped ARM program for the refinance of Autumn Chase Apartments, a multifamily property in Ellington, Conn. The 75 percent LTV loan, with a floating 4.66 percent rate capped at 7 percent, features a seven-year term with a 30-year amortization.

The property, on 115 West Road, includes two parcels - the 34-building, 253-unit Autumn Chase Apartments on a 56-acre parcel and a 16-acre parcel that was purchased separately for the future development of an additional 80 rental units. Autumn Chase Apartments is currently 91 percent occupied at an average monthly rent of $1,262 per unit.

Stewart Campbell of Capmark's New York City office originated the transaction for Autumn Chase LLC, an affiliate of Gardner Chapman. Refinancing through Freddie Mac's Capped ARM program afforded the borrower supplemental financing flexibility for the construction of an additional 80 units on the vacant portion of the property with an attractive prepayment option and low initial rate.

About Capmark®:

Capmark is a diversified company that provides a broad range of financial services to investors in commercial real estate-related assets. Capmark has three core businesses: lending and mortgage banking, investments and funds management, and loan servicing. Capmark operates in North America, Europe and Asia.

Capmark Finance Inc., the U.S. real estate lending and mortgage banking operations of Capmark, has access to multiple capital sources and offers a full range of financing solutions and resources. Capmark Finance is a direct lender, a correspondent for insurance companies, pension funds and other capital markets conduits and one of the leading approved lenders for Fannie Mae, Freddie Mac and HUD/FHA.

With a servicing portfolio of approximately $373 billion as of June 30, 2008 Capmark Finance is one of the industry's leading loan servicers.

Capmark Investments LP, the investments and funds management operation of Capmark, is an established manager of equity real estate and mortgage-related investments in the public and private markets with approximately $10 billion in investments under management as of June 30, 2008.

For more information about Capmark, visit www.capmark.com.

Capmark Finance Licenses: CA: CA Dept of Corporations Finance Lender License (lending) and CA Dept of Real Estate, Real Estate Broker License #00398180 (brokering); MI: Capmark Finance Inc., Michigan Real Estate Broker, Phone 248-208-3460; NV: Capmark Finance Inc., 200 S. Virginia St., Suite 800-Office #804, Reno, NV, Phone 775-686-2490; NY: Capmark Finance Inc., New York Real Estate Broker.

©2008 Capmark Financial Group Inc. All rights reserved.

Media Contact:    

Joyce Patterson

215-328-3842    

Joyce.Patterson @ capmark.com

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