6A — July 15 - 28, 2016 — M id A tlantic
Real Estate Journal
www.marejournal.com
F inancial D igest
L Horizon Square Apartments, 254-unit apt. complex M&T Realty provides $26m in acquisition financing
AUREL, MD — M&T Realty Capital Cor- poration has closed a $25.956 million Freddie Mac loan for the acquisition of Horizon Square Apartments, a 254-unit apartment complex located in Laurel. Horizon Square consists of 1-, 2- and 3-bedroom apart- ment homes, with 1-bedroom homes accounting for 53 per- cent of the total. Community amenities include a fitness room, clubroom, swimming pool and playground. The transaction was led by managing director Tim Wel- don of M&T Realty Capital
Horizon Square Apartments
Corporation’s Washington, D.C. office for borrower ROSS Companies. ROSS, a leader in multifamily acquisitions, property management and renovation in the Mid-Atlantic region, plans to implement im- provements to the community. The upgrades will include new carpet in the hallways, paint, an LED lighting retrofit, new glass storefronts at all entries and new windows. “With Baltimore 20 miles to the northeast and Wash- ington, D.C., 20 miles to the southwest, the value of Hori- zon Square’s location speaks for itself,” said Scott Ross, president of ROSS Develop- ment & Investment, an af- filiate of ROSS Companies. “We believe our upgrades will make Horizon Square a key location for those who com- mute to either city, as well as those who are rooted in the Laurel area. We’re excited to get started and to create sus- tainable value.” n Andrew Ray Wolfe joins Wolfe & Co. Realtors CARLISLE, PA — Andrew Ray Wolfe has joined Wolfe &Company Realtors in Car- lisle and will head its newly formed Appraisal Division. Having recently obtained his Certified General Appraiser License in the Commonwealth of PA, he will be providing commercial, industrial and residential appraisal reports to all Counties within the South Central Pennsylvania Region. Wolfe recently completed a three and a half year ap- praisal apprenticeship with RSR Appraisers and Analysts in Lemoyne. n
Recently Closed Loans
$2,147,000
$8,600,000
14-Unit Multifamily Construction Loan
104,000 SF Office Refinance
Philadelphia, PA Fort Washington, PA 70% LTV, 75% LTC, 18 Months, 4.0% 75% LTV, 10/30, 4.98%, Non-Recourse
Real Property Capital is a Philadelphia based full service commercial mortgage banking firm with a regional focus and national capabilities. Our business model emphasizes client satisfaction through a high-touch, analytical approach that distinguishes us from the competition. Learn more about our distinct approach and proven track record of success at www.realpropertycapital.com. FOR MORE INFORMATION: R. Brenner Green, President 75 East Butler Avenue • Ambler, PA 19002 • 610-456-9644 • bgreen@realpropertycapital.com
Made with FlippingBook flipbook maker