The asset involved in this transaction is a 205-unit multifamily property located at 800 Old Horseshoe Pike in Downingtown, Pennsylvania. The property is part of an ongoing development that will ultimately consist of 400 units, featuring amenities such as a pool and fitness center. The loan amount secured for this asset is $47,500,000, and it is classified as a bridge loan with a three-year term.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $47,500,000
• Address: 800 Old Horseshoe Pike
• Market: Downingtown, PA
• Lender: Argentic Investment Management LLC
• Landlord: Jeffrey Fernbach - Fernmoor Homes
• Brokers: Cassandra Russell & Matthew Klauer - CBRE
• Asset Units: 205
• Loan Type: Bridge
• Loan Terms: three-year

CBRE’s Multifamily Debt & Structured Finance team played a crucial role in securing this financing for Fernmoor Homes, ensuring support for Phase I of the community development in Downingtown. The financing will assist in the execution of the overall project plan, which includes future expansions and amenities.