Foulger-Pratt secures $92.7m to refinance Woodbridge Station
Published at: 2019-08-06 16:46 | Author: CIJ USA
Foulger-Pratt has secured $92.7m to refinance an apartment complex in Woodbridge, Virginia. Built in 1999, Woodbridge Station Apartments offers 500 units in 23 buildings on 44 acres. Berkadia arranged a seven-year interest-only loan, with an interest rate below 3.5 percent along with a 70 percent LTV ratio through Fannie Mae. The company plans to use the funding for general interior and exterior improvements along with a primary goal to increase energy efficiency by at least 30 percent.
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