Capstone Capital Closes $37.6 Million Loan for 348-Unit Apartment Community in Cary, North Carolina
CARY, NC - Capstone Capital announces the recent financing of Amberton at Stonewater Apartments in Cary, NC. The 348- unit community qualified for a non-recourse, Fannie Mae loan program with a loan amount of $37,584,000 with 3 years of interest only at a rate of 4.49%.Construction of this property was completed in 2014 with 1, 2 and 3 bedroom units and many amenities.
Jackson Howard represented the borrower through the completion of the financing. Howard states, “Roy Carroll and The Carroll Companies continue to build class A assets across the Carolinas. We are honored to assist in providing a grand total loan volume of $370,000,000 of optimal financing with maximum leverage to fuel this dominant leader in multifamily development”.
Capstone Capital is a seasoned group of commercial mortgage brokers who share a different view on the business. For us, the borrower is more valuable than the lender. We put our best resources in competition to secure the best...