$185,000,000 Floating-Rate Financing 

Altman Warwick arranged acquisition financing secured by eight luxury rental apartment complexes containing 1,865 units.  Included in the financing was a portfolio of five separate institutional quality multifamily rental properties containing 736,000 square feet located in Seattle, Washington, a luxury garden-style apartment complex located in Phoenix, Arizona, and a high-rise complex in Miami, Florida.  Despite the fact that the buildings all had high vacancy and deferred maintenance at the time of closing, we were able negotiate aggressive, interest-only, non-recourse loans at 80% LTV’s with going-in debt coverage ratios of .80:1.

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