Frank Rooney Jr. Of Simpson Property Group Secures $260M Refinance Loan For Multifamily Portfolio

The transaction involves a six-property multifamily portfolio that includes notable assets such as SkyHouse Austin and The Addison Apartments, totaling over 1,500 units. The properties are located at 51 Rainey Street, 2601 Esperanza Crossing, 1345 Southwest 172nd Terrace, 6205 Carnegie Boulevard, 2749 Walnut Street, and 2555 17th Street, situated across various markets including Austin, TX; Beaverton, OR; Charlotte, NC; and Denver, CO. The loan secured for refinancing this portfolio amounts to $260,000,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $260,000,000
• Lender: Northwestern Mutual
• Landlord: Frank Rooney Jr. - Simpson Property Group
• Broker: DJ Effler - Bellwether Enterprise (BWE)
• Loan Type: Refinance
• Loan Terms: five-year
• Interest Rate: 5.07%
• Loan-to-Value Ratio: 55%
• Portfolio Valuation: $473 million

Frank Rooney Jr. represents the landlord, Simpson Property Group, while DJ Effler represents the broker, Bellwether Enterprise (BWE). The refinance secured through BWE is backed by a substantial amount from Northwestern Mutual, reflecting the strong valuation attributed to this diversified multifamily portfolio.