Capital One Originates $37M for 2 AL Properties
MultiHousing News | June 11, 2018
Bethesda, Md.-based Capital One has originated a combined $37 million in acquisition loans for two properties in Alabama. Capital One provided a $26.5 million Fannie Mae fixed-rate loan to EBSCO Income Properties, which leveraged the loan to purchase a Class A, 336-unit apartment community called The Grand Reserve at Phenix City in Phenix City, Ala. The 12-year fixed-rate loan has eight years on interest-only payments followed by amortization on a 30-year schedule.