In support of Spira Equity Partners’ acquisition of Lafayette Apartments, a 340-unit affordable housing rental property in Alexandria, Virginia, Capital One has provided a $36 million Freddie Mac loan. The financing is aimed at preserving the property’s affordability and adheres to a low-income housing tax credit regulatory agreement. With a seven-year floating-rate term and three years of interest-only payments, this loan ensures long-term affordability for the property.
The successful partnership between Spira and Capital One has resulted in over $400 million in closed debt deals. Leading the way for Capital One were Evan Williams and Harrison Hunt.
This news was originally published on Connect CRE.
