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Capital One Provides $20.5MM FNMA Loan for Kansas City Apartments

May 13, 2015, 07:08 AM
Filed Under: Real Estate

Capital One Multifamily Finance announced it has provided a $20.5 million Fannie Mae fixed loan for the acquisition of The Manor Homes of Arborwalk, a 280-unit class A apartment complex in Lee’s Summit, Missouri, part of the Kansas City MSA.
The borrower, a subsidiary of Milestone Apartments Real Estate Investment Trust (“Milestone”), owns and manages a portfolio of 59 multifamily properties in Arizona, Florida, Georgia, Missouri, Tennessee, Texas, and Utah. Milestone, a repeat customer of Capital One Multifamily, purchased Arborwalk in 2015.
Capital One was able to secure attractive terms and structure for Milestone. “Milestone’s conservative approach to leverage and its track record of prudent financial management made it possible to structure a transaction that satisfies its requirements,” said Grace Huebscher, President of Capital One Multifamily Finance.
Milestone praised Capital One’s execution.  “Capital One understands and supports our business model,” said Ryan Newberry, Milestone’s Chief Financial Officer.  “They were equipped to support this approach  in negotiating with Fannie Mae.”  
Arborwalk is part of a 376-acre planned development located 25 miles southeast of downtown Kansas City, within short driving distance of schools and shopping. The property has a variety of one, two, and three bedroom units in 28 buildings. Community amenities include a clubhouse, business center, fitness center, pool, and movie theater room.
Capital One Bank’s Commercial Real Estate Group offers a comprehensive array of financing solutions for property owners and developers nationwide, including balance sheet and agency lending. Capital One Commercial Banking leverages a relationship-based banking model that seamlessly delivers an array of products and services including loans and deposit accounts, treasury management services, merchant services, investment banking, international services and correspondent banking.

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