AUSTIN, TX—Capital One Multifamily Finance hasprovided Freddie Mac fixed loans totaling$42.8 million for the acquisition of twoclass A apartment properties in Austin—the5th Street Commons, a 150-unit property built in2009, and the Pressler, a 168-unit propertyconstructed the same year. The transaction was originated byBrian Sykes, Beech Street'ssenior vice president of originations headquartered in thecompany's Boston office. This is the latest of a series oftransactions that the purchaser, Intercontinental Real Estate, hascompleted with Capital One Multifamily through its US Real Estate InvestmentFund.

“In an effort to maximize the return for the investor, we workedwith Freddie Mac to provide a very competitive seven-year,full-term interest-only loan,” Sykes says. In the process, Sykesand his team worked through several complex issues with the agency,including a master ground lease for the retail portion of theproperty. This enabled Capital One Multifamily to close the loan atthe promised spread and proceeds levels.

“They really went to bat for us,” says PaulNasser, the chief financial officer and chief operatingofficer at Intercontinental. “Capital OneMultifamily demonstrated once again that is willing to do what ittakes to represent its clients' best interests. We were veryappreciative.”