Capital Square 1031 secured a $69.9m loan for the acquisition of three multifamily properties. The properties include the Ivy Commons Apartments in Atlanta, Georgia; Axis 147 and Mayton Transfer Lofts, both located in the Richmond, Virginia, metropolitan area. Each of the three properties in the portfolio are well-located near public transportation and major thoroughfares. Mayton Transfer Lofts was built in 1911 and underwent extensive renovations from 2007 to 2012 to transform the industrial asset into a distinctive multifamily community. Walker & Dunlop represented the borrower in the Fannie Mae-funded loan.
“We were pleased to partner with Capital Square 1031 to provide financing on yet another great group of investment properties,” said Alexandra Huffman of Walker & Dunlop’s Multifamily Finance group. “Since the beginning of our relationship in 2016, we’ve witnessed meaningful growth both in the Capital Square portfolio and in the broader multifamily landscape – all thanks to favorable economic conditions, job growth and rising population in many markets.”
