Colliers Arranges $71M Permanent Loan on Bozeman Luxury Apartments
The Los Angeles Colliers Mortgage Structured Finance Group, led by Jonathan Lee and Shahin Yazdi, arranged a $71,422,000 permanent Fannie Mae loan for The Oxbow, a 268-unit luxury apartment community in Bozeman, MT. The financing retires the existing construction loan and provides substantial cash-out proceeds that will serve as equity for the development of Phase II.
The deal features a fixed interest rate of 5.34% and was structured with a full-term interest-only period to maximize investor cash flow. Given recent market volatility, the sponsor elected to rate lock early in the process to secure favorable terms and mitigate interest rate risk.
“This transaction is a great example of how our team structures financing solutions that are both creative and highly functional for our clients,” said Lee. “We’re proud to have delivered an execution that allowed the borrower to both refinance their Phase I development and launch Phase II without delay.”
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Greystar, Vantage Acquire Chamblee Property for 340-Unit Multifamily Community
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Multifamily Refinancing Squeeze: 41% Higher Costs, $6.8B Equity Gap
Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout