MCLEAN, VA - Gimbert Realty Capital has arranged a $47 million the refinance of five apartment properties. All five properties are garden-apartment buildings located Suburban Maryland and Northern Virginia. They are owned by RIMSI Corp.
Daniel Siesser of Gimbert’s McLean, VA office led the effort in arranging the refinance on behalf of the borrower. The three properties in Northern Virginia were Washington Square, Margate Manor, and Winterthur. The properties in Suburban Maryland were Hermitage Square and Queens Park Plaza. All five loans were placed with Securian Financial Group, a life insurance company based in Minnesota. “Not only were the lender’s terms ultra-competitive, but they were able to provide certain flexible features that just aren’t available from the agencies or CMBS conduits,” remarked Daniel Siesser.
RIMSI Corp, based in Rockville, MD, has owned and managed the properties for nearly five decades. “Gimbert Realty Capital was a pleasure to work with on this transaction. They were consummate professionals and were always thinking a step ahead. Their involvement was crucial to the successful flow of information and communication with Securian Financial,” said Steven Tomares, CEO of RIMSI Corp.
About Gimbert Realty Capital: Gimbert Realty Capital is a capital markets advisory firm that arranges debt and equity for commercial real estate owners, investors, and developers. Based in McLean, VA, the firm is a proprietary loan originator and mortgage servicer in the Mid-Atlantic region for a select group of life insurance companies.
For more information, please contact Daniel Siesser at (703) 893-0865 or at dsiesser@gimbertrc.com