FINANCED
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
Loan
TENNESSEE
MultiFamily
42,960 sqft
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.
Players
All
4
Agents
2
Agencies
1
Lenders
1
Details
FINANCED
IMAGE: Christopher Apone & Charles Foschini
DATE: 08/16/2021
ADDRESS: 6860 Quince Road
MARKET: Memphis
ASSET TYPE: Multifamily
UNITS: 1,002
LANDLORD: Blue Magma Residential
LENDER: Arbor Realty Trust
BROKERS: Charles Foschini (@GladesMan1) & Christopher Apone - Berkadia
LOAN AMOUNT: $82,000,000
LOAN TYPE: Acquisition
LOAN TERMS: The non-recourse, floating-rate three-year interest-only loan includes two one-year extension options.View on map
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Address6860 Quince Road
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