Cushman & Wakefield’s Atlanta Equity, Debt & Structured Finance Group has arranged $13.4 million in long-term, fixed-rate agency debt for Peak Capital Partners’ $16.75 million acquisition of Peppertree Apartments, a 353-unit garden-style community in North Charleston, S.C.
Cushman & Wakefield’s Mike Ryan, Telly Fathaly and Jeff Walker represented Peak Capital Partners with Fannie Mae lender Charlie Mentzer, while Cushman & Wakefield’s multifamily team of Alex Brown, Nathan Swenson and Tai Cohen helped broker the sale.
“Cushman & Wakefield engaged with multiple lenders to determine available loan-to-value ratios and rates and address the deal’s potential complexities,” said Ryan, Senior Managing Director in Cushman & Wakefield’s Equity, Debt & Structured Finance Group. “Through our correspondent relationship with Capital One, we were able to help Peak Capital procure the necessary funding and get extremely favorable pricing and proceeds.”
Peppertree Apartments is located in the rapidly expanding North Charleston market. Built in multiple phases between 1983 and 1989, the property is comprised of three non-contiguous parcels within a neighborhood that is primarily comprised of single-family homes. It is located just northeast of Joint Base Charleston, Charleston International Airport and the Boeing Assembly Plant.
Cushman & Wakefield Equity, Debt & Structured Finance is a premier real estate investment banking organization serving the financing needs of the real estate industry for over a century. Founded in 1893, and previously known as Sonnenblick Goldman Company, the firm provides a full range of real estate related financial services, including debt and equity placement and joint venture structuring for virtually all product types, investment sales for lodging properties and senior housing/skilled nursing, mortgage loan sales, and advisory services on a global basis as part of the Cushman & Wakefield Capital Markets Group. Headquartered in New York, Cushman & Wakefield Equity, Debt & Structured Finance has additional offices in Atlanta, Boston, Los Angeles, Chicago, Orlando, San Diego, San Francisco and Washington, DC.