Blue Magma Residential Acquires 1,002-Unit Multifamily Property In Memphis For $82M
6860 Quince Road
MultiFamily
42,960 SF
42,960 SF
Financed 1 year ago
Summary
Blue Magma Residential has acquired a multifamily property located at 6860 Quince Road in Memphis. The property consists of 1,002 units and was part of an acquisition deal.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $82,000,000
- Address: 6860 Quince Road, Memphis
- Market: Memphis
- Units: 1,002
The loan for this acquisition was provided by Arbor Realty Trust, in the amount of $82,000,000. The loan is non-recourse and has a floating interest rate. It has a term of three years, with interest-only payments, and includes two one-year extension options. Charles Foschini from Berkadia and Christopher Apone were the brokers representing Blue Magma Residential in this deal.
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4
Agents
2
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1
Lenders
1
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6860 Quince Road
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