Capital One Completes $55M Freddie Mac Loan on Maryland Multi-Family Asset – Business Observer

A joint venture between Insight Real Estate Group, AHC and Federal Capital Partners secured a $55 million floating rate loan Freddie Mac loan for the acquisition of Camden Largo Town Center Apartmentsa 245-unit community in Largo, Md., Commercial Observer can first report.

Capital one provided the 10-year loan, which includes five years of interest-only payments. The deal was initiated by a team led by Jonathan Pratt, Rossana Bouchaya and Pat Greenwood.

“As the shortage of affordable housing continues to be a challenge across the country, these sponsors are committed to voluntary affordability measures, in which they allocate housing to low-to-moderate income households,” said Pratt, senior vice president of agency finance for Capital. A. “We worked closely with the agency to highlight the sponsor’s business plan and affordable housing commitments to achieve the best leverage and revenue.”

Located at 9701 Summit Circle, multi-family apartments have monthly rents ranging from $1,698 for one bedroom to $2,416 for three bedrooms. Facilities include a swimming pool and fitness center, according to Apartments.com.

Officials from Insight Property Group, AHC and Federal Capital Partners did not immediately respond to requests for comment.

Emily Fu can be reached at [email protected].