Fernmoor Homes Secures $85 Million Loan From Barings For 318-Unit Multifamily Community In Downingtown

The asset involved in this transaction is Mi-Place at Downingtown, a multifamily residential community located at 800 Horseshoe Pike in Downingtown, Pennsylvania. The property comprises 318 units, which include 200 apartments and 118 townhomes. This newly completed community secured a loan amount of $85 million from Barings, facilitating its financial structure in the local market.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $85,000,000
• Address: 800 Horseshoe Pike
• Market: Downingtown, PA
• Lender: Barings
• Landlord: Fernmoor Homes
• Broker: CBRE
• Units: 318

Fernmoor Homes is the landlord for the property, while Barings acted as the lender. The loan was arranged by CBRE, highlighting the collaboration between these entities in facilitating the financing for this residential development.