The eight-property, 2,306-unit portfolio includes properties in Indiana, Kentucky, Tennessee and Virginia. The loan, which was arranged by HFF director Matthew Schoenfeldt, is a 10-year, 5.4% fixed-rate loan.
"In addition to the exceedingly attractive loan terms delivered to our borrowers, this closing was monumental as it represented the very first crossed-pool funding for Freddie Mac's CME program," Schoenfeldt says. "The planned enhancements will reinforce the NTS portfolio's status as the preeminent rental communities in their respective markets."
The portfolio includes, the 464-unit Park Place Apartments in Lexington, KY; the 310-unit Willows of Plainview in Louisville, KY; and The Grove Whitworth Apartments in Nashville.
NTS Realty currently owns 24 properties, including 14 multifamily properties, seven office properties, three retail properties and a business center.
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