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3/13/19
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CBRE has arranged a $700 mil loan for the refinancing of the Modera Portfolio; a nine-building collection of Class A+ multifamily assets located across the United States.
Andrew Behrens and Jesse Weber of CBRE Capital Markets’ Debt & Structured Finance team in San Francisco represented the partnership of Rockwood Capital Corporation and Mill Creek Residential in the acquisition of capital from Fannie Mae (FNMA). The seven-year credit facility is a mix of a sub-four percent fixed rate and floating rate debt. The facility is a refinance of a combination of existing construction and bridge financing loans.
The buildings in the Modera Portfolio are in various stages of lease-up and stabilization and include the properties below:
Building City, State Year Constructed # of Units
South Lake Union Seattle, WA 2016 294
Glendale Glendale, CA 2016 235
Flats Houston, TX 2016 265
Douglas Station Miami, FL 2017 443
Lofts Jersey, NJ 2016 366
Natick Natick, MA 2016 150
Pearl Portland, OR 2017 290
Mosaic Fairfax, VA 2017 473
Medford Medford, MA 2017 297
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