$56,000,000 Permanent Financing
Altman Warwick arranged a $56,000,000 permanent loan secured by a 352-unit Class-A apartment complex located in Jupiter, Florida.
Altman Warwick exclusively represented a New York investor group who acquired the newly completed complex for $88MM as part of a 1031 exchange. Located in one of the strongest multifamily submarkets in Florida, this 352 unit complex was completed in 2015 and reached stabilized occupancy within 5 months of the seller/merchant builder receiving the C of O.
The loan was originated by Morris Dweck and placed with a major life insurance company featuring a 10 year fixed rate in the mid- 3% with 5 years interest-only.