Highgates Group Secures $96M Loan For Multifamily Communities Recapitalization In Louisville KY

The transaction involves the recapitalization of three newly built multifamily communities in Louisville, KY, comprising a total of 640 units. The properties are located at the following addresses: 11010 Garden Trace Dr, 7610 Chelsea Gardens Circle, 7703 Cedar Creek Road, and 12306 Glengrove Cir. Highgates Group is the landlord in this transaction, and the loan amount secured is $96,000,000 utilized for refinancing debt and returning capital to investors.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $96,000,000
• Market: Louisville, KY
• Asset Units: 640
• Loan Type: Recapitalization
• Landlord: Highgates Group
• Brokers: Jonathan Zilber, Joel Chetner & Josh Geller - Walker & Dunlop

Walker & Dunlop was responsible for arranging the floating-rate, interest-only financing which amounts to $96.7 million. This financing serves to recapitalize the properties on behalf of Highgates Group, signifying a strategic financial move to strengthen the investment profile of the multifamily communities involved.