(To read more on the multifamily market and the debtand equity markets, click here.)
EL PASO-Cash Investments, a Texas-based owner of 7,800multifamily homes, has refinanced two of its El Paso apartmentproperties with 10-year loans at a fixed rate of interest from JPMorgan Mortgage Capital.
The New York-based conduit lender provided a $3.48-million loanfor the 121-unit, seven-building Southview Apartments that is 97%leased on a 4.1-acre site at 611 Yarbrough Dr. The 10-building,67-unit Ashton Park Apartments has a $1.8-million loan. AshtonPark's studio, one-bedroom and two-bedroom units are 97% occupied.The apartment complex sits on 2.7 acres at 5815 Timberwolf Dr.,east of Downtown El Paso. The Southview units average 614 sf ofliving area. Ashton Park's average unit size is 746 sf.
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