Atlanta & Southeast + Carolinas + Finance | July 15, 2022

Eastern Union has secured a $38.4-million refinancing for Roseberry Apartments in Columbia, SC.

Eastern Union Secures $38M Refi Loan for Columbia Multifamily

Eastern Union has arranged for the $38.4-million refinancing of the Roseberry Apartments, a 285-unit multifamily property in Columbia, SC.

Joseph Sasson with Eastern Union secured a loan with an interest rate fixed at 3.74% over a 35-year term, on a self-liquidating basis. The financing represented an 80% loan-to-value ratio.

The loan for the four-year-old, five-story property was financed through a HUD loan provided through Greystone.

“Because of increasing interest rates, inflated prices and compressed cap rates, this is a time when a broker is able to deliver a great deal of value,” said Sasson.

From beginning to end, the transaction took twelve-and-a-half months to complete. Eastern Union had arranged acquisition financing for this same property in June of 2021.

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Eastern Union's Sasson

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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