Updated Nov 2, 2026
Continental Properties Secures $480 Million Refinancing For Multifamily Portfolio Across Seven States
Multifamily Portfolio
$480,000,000
Units
2,700
Asset Type
MultiFamily
Closing
Nov 2, 2026
About this deal
AI
A refinancing transaction has been secured by Continental Properties for a multifamily portfolio consisting of 10 properties across seven states, namely Florida, Georgia, Illinois, Indiana, Iowa, Michigan, and Tennessee, covering a total of more than 2,700 units. The loan amount for this refinancing is $480 million, provided by New York Life Real Estate Investments to replace existing construction financing.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $480,000,000
- Lender: Naïm Abou-Jaoudé - New York Life Real Estate Investments
- Landlord: Dan Sell & James H. Schloemer - Continental Properties Company, Inc
- Broker: Jim Cope - Walker & Dunlop
The refinancing was arranged by Jim Cope from Walker & Dunlop, and the properties are set to join Continental Properties Development Fund II's existing portfolio, which includes 23 communities totaling over 5,700 units.
On the Map
$480,000,000
MultiFamily
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Players
Galen MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93