Philadelphia, PA (Vocus) January 14, 2009
Capmark Finance Inc. (Capmark Finance) originated a total of $62,400,000 in permanent, fixed-rate debt through its Fannie Mae DUS® program for the refinance of two Connecticut multifamily properties. Financing included $31,450,000 for Chestnut Hill Apartments and $30,950,000 for Northwoods Apartments.
Chestnut Hill Apartments is a 29.44-acre property with 314 dwelling units at 99 percent occupancy. Northwoods Apartments consists of 336 units on 17.37 acres. The property is 98 percent occupied.
Senior Vice President Steve Doherty of Capmark's Horsham, Pa., office originated the transactions for borrower BPG Properties, an affiliate of Berwind Property Group.
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 $363.2 billion as of Sept. 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 $9.8 billion in investments under management as of Sept. 30, 2008.
For more information about Capmark, visit http://www.capmark.com.
Capmark Finance Licenses: CA: CA Dept of Corporations Finance Lender and Broker 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.