Cohen Financial Secures $66M in Refi and Acquisition Loans
- Jul 26, 2016
San Francisco—Cohen Financial has secured approximately $66.5 million for a San Francisco-based multifamily commercial real estate owner/investor.
Kenneth Fox, managing director in Cohen Financial’s San Francisco office, originated $37.5 million to refinance a portfolio of nine properties located in Marin County and San Francisco. Another $29 million loan was closed for the acquisition of The Ridge Apartments, an apartment community located in Overland Park, Kan. The acquisition loan was originated with Wells Fargo, a Fannie Mae DUS lender.
“We secured the refinancing loans through four local/regional banks at competitive interest rates with great speed to generate the equity required to close the acquisition of the Overland Park property and meet our client’s June 30th close date,” Fox said in prepared remarks. “We successfully prevailed on leverage points and low interest rates and pushed through to meet the targeted close date on the Ridge Apartments,” he added.
Image courtesy of Cohen Financial