Peak Acquires 353-unit Garden-style Community
Cushman & Wakefield’s Atlanta Equity, Debt & Structured Finance Group has arranged an 80% LTV long-term, fixed-rate agency loan for Peak Capital Partners’ acquisition of Peppertree Apartments, a 353-unit garden-style community in North Charleston, S.C.
Cushman & Wakefield’s Mike Ryan, Telly Fathaly and Brian Linnihan represented Peak Capital Partners while Cushman & Wakefield’s multifamily team of Alex Brown, Nathan Swenson and Tai Cohen helped broker the sale.
“Cushman & Wakefield engaged with multiple lenders during Peak’s pursuit of the property to determine available loan-to-value ratios and interest rates,” said Fathaly, Senior Director in Cushman & Wakefield’s Equity, Debt & Structured Finance Group. “Ultimately, Peak selected a Fannie DUS execution which provided the most attractive proceeds, pricing, and interest only.”
Peppertree Apartments is located in the rapidly expanding North Charleston market. Built in multiple phases between 1983 and 1989, the property is comprised of three non-contiguous parcels within a neighborhood that is primarily comprised of single-family homes. It is located just northeast of Joint Base Charleston, Charleston International Airport and the Boeing Assembly Plant.
Cushman & Wakefield Equity, Debt & Structured Finance is a premier real estate investment banking organization serving the financing needs of the real estate industry for over a century. Founded in 1893, and previously known as Sonnenblick Goldman Company, the firm provides a full range of real estate related financial services, including debt and equity placement and joint venture structuring for virtually all product types, investment sales for lodging properties and senior housing/skilled nursing, mortgage loan sales, and advisory services on a global basis as part of the Cushman & Wakefield Capital Markets Group. Headquartered in New York, Cushman & Wakefield Equity, Debt & Structured Finance has additional offices in Atlanta, Boston, Los Angeles, Chicago, Orlando, San Diego, San Francisco and Washington, D.C.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
