Phoenix – Cohen, a national real estate capital services firm, today announced that its Phoenix office has secured a $5.474 million acquisition loan for Acacia Pointe, a multifamily property consisting of 208 apartments located at 8344 North 67th Avenue in Glendale, Arizona. The property is well occupied with stable operations.
Brandon Harrington, Cohen Financial Managing Director, and Matt Steffen, Cohen Financial Vice President, both in the Phoenix office, originated the fixed-rate, 5-year term loan with a 30-year amortization rate. The lender for Acacia Pointe was Walker & Dunlop, a Fannie Mae lender for multi-family housing. The borrower is a local commercial real estate investor.
“Our client relied heavily on our expertise of agency underwriting parameters to help maximize loan proceeds during a period of interest rate fluctuation,” said Mr. Harrington.
About Cohen Financial
Cohen Financial is a diversified, commercial real estate capital services firm offering debt and equity placement, loan administration and advisory services. The company was named top originator for specialtyin the MBA 2012 Commercial Real Estate/Multifamily Finance Firms--Annual Origination Volumes report. Cohen Financial is well recognized as one of the nation's leading loan servicers and special servicers, as well as an originator of commercial and multifamily real estate financing. Known for finding innovative solutions to meet client needs, the company recently launched an Equity Practice to help borrowers complete their capital needs and an enhanced Capital Advisory and Valuation Services to assist financial institutions and investors to better evaluate assets and investment opportunities. Cohen Financial serves clients throughout the U.S. from offices in 10 major markets.