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Finance
Posted: January 10, 2020
CBRE secures $37.2m financing for acquisition of Alta Easterly on behalf of Audubon Capital Partners
Walpole, MA CBRE has secured $37.2 million in financing to assist with the acquisition of Alta Easterly, a 157-unit apartment community located at 1100 Cricket Ln.
John Kelly and Collin Brennan of CBRE Capital Markets’ Debt and Structured Finance team obtained the financing on behalf of Audubon Capital Partners. The property has been rebranded Audubon Easterly.
“We were happy to assist our repeat client in positioning this acquisition for long-term financial success,” said Kelly. “We were able to secure a great long-term fixed rate financing solution with one of our life company partners that matched the client’s business objectives.”
“We were attracted to the economic drivers as well as the quality of the construction of this newly built asset,” said Brett Catlin of Audubon Capital Partners. “The community offers a desirable location to our residents as well as providing a first class living environment.”
Alta Easterly was delivered in 2018, the property is comprised of three four-story residential buildings. The unit mix includes 57 one-bedroom, eight one-bedroom with den, and 92 two-bedroom units, with an average unit size of 948 s/f. Alta Easterly is located proximate to the intersection of I-95 and 93, providing access to Boston.
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