2002 Transactions
Tremont Advises on $58,500,000
Acquisition Loan for Multifamily Portfolio
Tremont
Realty Capital, Inc. announced that it has advised the buyer
of a 20 property multifamily portfolio, located in Colorado
and Wyoming, on a $58,500,000 acquisition financing transaction.
The portfolio included mostly multi-story assets similar
to the property shown, the Courthouse Square Apartments
in Denver.
John Chase, Senior Director, based in the
Tremont Annapolis office managed the assignment. The buyer,
American Housing Properties, of Portland, Maine acquired
the 1,407-unit portfolio from a Colorado based seller. Tremont
advised on the placement of the financing with the Colorado
Housing Financing Authority (CHFA), the state agency providing
the subsidized financing for the mixed income housing deals
in Colorado. John Chase noted, "The CHFA loan funded
over 95% of acquisition costs and allowed our client, American
Housing to close the transaction within the abbreviated
time frame permitted under their purchase contract. While
state agencies sometimes get bad publicity for taking too
long to complete deals, we have nothing but praise on how
professional this CHFA loan was handled."
For additional information on this transaction,
please contact:
John Chase
Senior Director
Email: jchase@tremontcapital.com
Phone: 410.604.1744
