Salem, NH CBRE/New England’s multifamily debt & structured finance group arranged a $4.1 million loan on behalf of Circle Rental Management to refinance the existing debt for Rosewood Apartment Living, a 42-unit multifamily community. The refinance was secured through a local bank.
CBRE/NE multifamily debt & structured finance group senior vice president/partner, John Kelly and financial analyst Sam Dylag procured financing for Circle Rental Management, the long-time owner of the Property. “It was a pleasure to work with the owners on this opportunity. They have thoughtfully managed and maintained this property for a number of years now and we were able to arrange a 10-year fixed rate loan with very attractive terms. The refinance matches their long-term ownership horizon with a low cost of capital,” said Kelly.
“We were very pleased with the results of this refinance to lock in excellent terms while interest rates are still near historic lows. CBRE was able to get a local lender to execute on an expedited timeline,” said principal Larry Jacobs.