SUMMERVILLE, SC – Capstone Capital is pleased to announce the recent cash-out refinancing of Kilnsea Village Apartments. This developer is a big name player in the multifamily industry in the Southeast and this asset was nothing short of apartment excellence.
This new community brings a world of luxury and convenience to its tenants. It is strategically located near various shopping, dining, parks and entertainment in addition to being a short, convenient commute the Charleston International Airport, North Charleston Coliseum, and Downtown Charleston.
The owner carried a loan balance of approximately $20,000,000 on the property and decided on Fannie Mae terms to place new debt. Via strong lender relationships and with the assistance of Jackson Howard of Capstone Capital, this repeat borrower closed Kilnsea Village Apartments with $32,500,000 in loan dollars, a fixed rate of 4.45%, first 3 years of Interest Only, followed by 30 year amortization. The borrower was able to get cash out of approximately $12,500,000.
About Capstone Capital: Since 2007, Capstone Capital has closed over 115 commercial loans for over $1 billion in loan volume. With offices in Nashville, Tennessee and Fayetteville, North Carolina, Capstone Capital closes loans throughout the Southeast. The Capstone Capital team states, “We put our best resources in competition to secure the best loan for our clients. Then we go the extra mile, because this business is about more than a great mortgage rate. We’re thorough, we’re involved, and we take the pressure off of our clients. Our packages get prompt attention from lenders because they’re detailed and transparent, ensuring a smooth, no-surprises process for all. It’s the reason 80% of our business is repeat customers. Our team prides itself on being involved, thorough and focused on customer service so as to ensure that the process can be as seamless for the borrower as possible. To learn more please visit www.cscap.us.