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Finance
Posted: October 14, 2016
Riccio, Larkin, Pfau and Kelly of CBRE place $21.8 million loan for the acquisition of Coppermill Park Apartments
Coppermill Park Apartments - Stoughton, MA
Stoughton, MA CBRE Capital Markets’ Debt & Structured Finance team has arranged a $21.8 million loan for the acquisition of Coppermill Park Apartments, a 154-unit, class A apartment community.
Michael Riccio, Susan Larkin and Anna Pfau of CBRE’s Hartford, office, along with John Kelly of CBRE/New England’s Boston office, secured the competitively priced, floating rate loan on behalf of an entity advised by Dallas-based Crow Holdings Capital – Real Estate. Financing was provided by Freddie Mac.
Mike Riccio, CBRE
Susan Larkin, CBRE
Anna Pfau, CBRE
John Kelly, CBRE New England
“We are pleased to assist Crow Holdings in their efforts to diversify their portfolio into the suburban Boston market. Coppermill Park is an excellent property and the competitive financing we secured on behalf of our client will help them achieve their goals for this deal,” said Riccio, senior managing director, CBRE Capital Markets.
Located at 3101 Stagecoach Rd., Coppermill Park is situated on an 8.57 acre site and consists of three 4-story garden-style apartment buildings, with elevators, and five free-standing carports (39 spaces).
The property offers community amenities including a fire pit with lounge area, picnic areas with built-in grilling areas and a putting green. One of the buildings also holds a clubhouse with a resident’s lounge and flat screen TV, coffee bar, cyber café, fitness center and an on-site management office. Constructed in 2010,Coppermill Park is an Energy Star-certified community.
CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue). The company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.
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