In support of Spira Equity Partners’ acquisition of Lafayette Apartments, a 340-unit affordable housing rental property in Alexandria, Virginia, Capital One has granted a $36 million Freddie Mac loan. The primary goal of this financing is to maintain the property’s affordability as governed by a low-income housing tax credit regulatory agreement. This seven-year floating-rate loan includes three years of interest-only payments and serves to ensure long-term affordability.
The partnership between Spira and Capital One has successfully closed over $400 million in debt transactions. Leading the team at Capital One were Evan Williams and Harrison Hunt.
This news was originally published on Connect CRE.
