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Elite North Scottsdale Locks in $86M Acquisition Financing
Financing was recently secured for Elite North Scottsdale, a 360-unit garden-style multifamily property in Scottsdale. The 10-year Freddie Mac loan features a near full term of interest-only and a 60 percent loan-to-value ratio.
Allan Freedman and Nick Provost of Berkadia Los Angeles secured the $86.22 million in permanent acquisition financing on behalf of the borrower, California-based The Ezralow Company.
“Freddie Mac was a terrific partner,” said Freedman. “They allowed a four-month early rate lock in order for the borrower to execute their business plan for the acquisition. The ample interest-only provided at full leverage allows the client to conduct their value-add strategy while having extra cashflow for cushion.”
Located at 6735 E. Greenway Pkwy., Elite North Scottsdale features one-, two- and three-bedroom floorplans.
- ◦Financing
