CushWake Arranges Elk Grove Refi for American Capital Group
Cushman & Wakefield advised American Capital Group in the $34-million refinancing of Laguna Creek Apartments, a 160-unit, garden multifamily community in Sacramento County’s Elk Grove. The loan was provided by Hartford Investment Management Company.
A Cushman & Wakefield Equity, Debt & Structured Finance (EDSF) team of Dave Karson, Chris Moyer, and John Spreitzer represented American Capital Group.
“More than 97% occupied, Laguna Creek is an attractive and strategically located apartment community,” said Karson, head of Cushman & Wakefield’s EDSF team in the Pacific Northwest. “American Capital Group is in the middle of a multimillion-dollar capital improvement plan at the property that will elevate the property even further.”
Located at 8760 Center Pkwy. and built in 2004 by American Capital Group, Laguna Creek consists of one- and two-bedroom apartment units across two- and three-story garden-style buildings. It’s nearby several amenities including multiple shopping centers and the Elk Grove Regional Park.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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