Obtaining Refinances on 3 DFW Properties in Atlantic Pacific

Obtaining Refinances on 3 DFW Properties in Atlantic Pacific

According to a report from RE Business, Atlantic Pacific Cos. has secured $112.4 million in Freddie Mac loans to refinance three multifamily properties in the Dallas-Fort Worth (DFW) metroplex.

The financing package includes a $40 million loan for Atlantic Stonebriar, a 294-unit complex situated in The Colony, a northern suburb of Dallas; $42.3 million for Atlantic McKinney, which features 343 units and is located on the outskirts of Dallas; and $30.2 million for Atlantic Station, an apartment community with 324 units in Fort Worth.

In addition to these DFW properties, Atlantic Pacific also closed loans for four other assets – three located near Atlanta and one in Cary,N.C.The seven new mortgage loans have five-year terms with fixed interest rates averaging around 5.1 percent.

Connect CRE reports that Freddie Mac has provided funding totaling $112.4 million to refinance multiple multifamily properties owned by Atlantic Pacific Cos., based out of the DFW metroplex area.

The refinancing deal includes separate amounts allocated towards each property: A loan worth$40million was granted towardsAtlantic Stonebriar,a residential complex featuring294 apartmentslocatedin The Colony- asuburb northofDallas.AtlanticMcKinney receiveda sumof$42 .3millionfor its343units,situatedontheoutskirtsofDallas,andAtlanticStationwas givena totalof$30 .2milliontowardsits324apartmentsinFortWorth .

Alongside thesethreeDFWproperties ,Atlanti cPacificalso obtainedrefinancingforfouradditionalassets.ThreearelocatednearAtlantaandthefourthissituatedinCary,N.C.Allsevenmortgageloanshaveafive-yeartermwithfixedinterestratesaveragingaround5 .1percentaccordingtoConnectCRE’sreporting.

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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