Boutique real estate advisory firm 3G Capital Advisors has closed $179.2 million in permanent financing for Watermark J&L Partners.
The loan was originated through Greystone and provided by Freddie Mac.
“A core element of our mission at 3G Capital Advisors is to leverage our experience, expertise, and relationships to maximize debt and equity opportunities for our partners,” said Christopher Hilbert, CEO of 3G Capital Advisors.
The loans will refinance a portfolio of four class A, newly-built multifamily communities with a total of 1,188 units in Arkansas, Colorado and Texas.
The properties include Watermark at Steele Crossing, a 306-unit community in Fayetteville, Ark.; Watermark on Harvest Junction, a 276-unit community in Longmont, Colo.; Watermark on Twenty Mile, a 294-unit community in Parker, Colo.; and The Ranch at Sienna Plantation, a 312-unit community in Missouri City, Texas.
Paul Thrift, CEO of Watermark Residential added, “3G Capital provided us a window into new agency financing opportunities that will allow us to redeploy capital more efficiently and effectively.”
Each of the loans are fixed-rate, 15-year loans with seven years of interest-only payments.
