Buckingham Companies Secures $330M Refinance For Multifamily Portfolio Across Five States

The asset involved is a multifamily portfolio consisting of 2,381 units located across five states: Indiana, Ohio, Kentucky, Tennessee, and Georgia. The properties are 95% occupied and have undergone $45 million in renovations, enhancing their value. This refinance transaction secured a loan amount of $330 million through a floating-rate CMBS loan structure.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $330,000,000
• Loan Type: Refinance
• Loan Terms: Floating-rate
• Lender: Goldman Sachs & Atlas SP Partners
• Landlord: Bradley Chambers - Buckingham Companies
• Broker Representatives: Jason Gaccione, Shawn Rosenthal, Lauren Weinstein, Jake Salkovitz, Justin Helbling, Thomas Traynor, Tom Rugg & Henry Fenmore - CBRE
• Asset Occupancy: 95%
• States Involved: Indiana, Ohio, Kentucky, Tennessee & Georgia

The deal was represented by an extensive team of brokers from CBRE, highlighting the collaborative effort to facilitate the refinance for Buckingham Companies. The transaction underscores a strategic move to enhance property performance through financial restructuring, leveraging the robust market conditions in the highlighted states.