The Bascom Group, LLC completed a $235-million refinance of an 11-property multifamily portfolio spanning five states. Most the new loans are interest-only with spreads over LIBOR ranging from 180 bps to 200 bps and interest-only periods of 24-36 months.
CBRE’s Brian Eisendrath and Annie Rice, JLL’s Charles Halladay and Jamie Kline, and Talonvest’s Tom Sherlock and Erich Pryor arranged the debt financing. Five loans were provided by Comerica Bank, two from Silvergate Bank, and one loan each from TCF Bank, New York Life, Citizens Business Bank, and Texas Capital Bank.
The assets include: The Square Apartments in Downey, CA, Camden Village Apartments in Fremont, CA, Del Flora Apartments in Redlands, CA, Courtyard on 68th Apartments in San Diego, Juniper Terrace Apartments in Escondido, CA, Southtown at Main Apartments in Santa Ana, CA, 52nd Marketplace in Arvada, CO, Prescott Lakes Senior Apartments in Prescott, AZ, McKinney Orchid Apartments in McKinney, TX, Fifty 101 and Lyric Apartments (pictured), both in Las Vegas, NV.