SEATTLE – January 23, 2020 – Berkadia today announced $30.3 million in financing secured for Talus Apartments, a 288-unit garden-style multifamily community in Great Falls, Montana. Managing Director Jeff Stuart of Berkadia’s Seattle office originated the acquisition mortgage on behalf of Investors Capital Group, LLC, also based in Seattle. The deal closed on January 15.
The 10-year Freddie Mac loan features a full-leverage loan with partial-term interest-only.
“It was great working with the ICG and Freddie Mac teams on another seamless deal,” said Stuart. “Talus Apartments is a great community in a promising market. Congrats to everyone on the ICG team!”
Located at 2100 26th Street S, Talus Apartments was constructed in two phases from 2015-2018. The property features studio, one- and two-bedroom floor plans with in-unit washers and dryers, stainless-steel energy-efficient appliances, walk-in closets, nine-foot ceilings and private patios or balconies. Community amenities include a resort-style heated swimming pool, an expansive sun deck, a 24-hour fitness center and several barbeque stations. The property provides convenient access to the largest private employers in the Great Falls MSA, including the Benefits Health System, Malmstrom Air Force Base and Centene Corporation.
Berkadia Secures $30M in MF in Montana | Connect Commercial Real Estate
Berkadia Secures $30M for ICG Apartment Deal | The Seattle Daily Journal of Commerce