Virginia-based Stone Creek Apartments has secured a $34.1 million loan for the refinance of its 264 unit property, Stone Creek Village Apartments. The 35-year HUD loan has a 3.25 percent interest rate and provides debt service savings of roughly $216,000 per year. Berkadia sourced the funding on behalf of the borrower. Located at 365 Stone Creek Point, the property’s features include a one-acre pond, a fitness center, a 7,000-square-foot clubhouse and a swimming pool. Stone Creek Village offers is located near Charlottesville’s downtown and the University of Virginia Medical Center.
