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CBRE CAPITAL MARKETS ARRANGES FINANCING FOR CARRIAGE HILLS APARTMENTS IN PENSACOLA

CBRE CAPITAL MARKETS ARRANGES FINANCING FOR CARRIAGE HILLS APARTMENTS IN PENSACOLA

Pensacola, FL – December 14, 2011 – (RealEstateRama) — CBRE Capital Markets recently arranged $6.75 million in proceeds for the purpose of refinancing the debt on Carriage Hills Apartments, a 260-unit garden style apartment complex in Pensacola, Florida. Financing terms of the loan include a 10-year fixed-rate term, 30-year amortization schedule and loan-to-value of 75%. The transaction was completed on behalf of Hills Apartment Communities, LLC and the lender was Miami Beach-based Archetype Mortgage Capital.