A 120-unit Graniteville housing project built in 2012 has been refinanced with a $9.67 million loan secured by CBRE Capital Markets.
The loan is being funded through the U.S. Department of Housing and Urban Development’s refinance program.
The garden-style, multifamily Summits Apartments, located at 2170 Jefferson Davis Highway between Aiken and Augusta, Ga., consists of five residential buildings, one accessory building and 193 surface parking spaces. The three-story property is being managed by Stonemark Management.
Monica Newman of CBRE’s Debt & Structured Finance team in Denver originated the loan through CBRE’s FHA lending platform on behalf of the borrower, Greenville Park West LP, which is managed by Hudson Capital Investments LLC.
“Working with Monica Newman and the CBRE team is always a pleasure. This was our third multifamily transaction with them and we have already started the fourth,” Hillary Blevins, managing member of Hudson Capital Investments, said in a news release. “The entire team is there with each step of the application process, making it seamless and helping us achieve our goals.”
CBRE is a direct FHA lender.