Natixis Corporate & Investment Banking provides $70 million financing for acquisition of Maryland multifamily property
Natixis Corporate & Investment Banking originated a $70.01 million, five-year, floating-rate financing to subsidiaries of Rose Valley Capital, an affiliate of Hampshire Properties, to finance the acquisition of The Fields at Rock Creek, a 314-unit, Class A multifamily property located in Frederick, Maryland.
Built in 1990, the property includes a mix of one-bedroom, two-bedroom and three-bedroom apartments with an average unit size of 921 square feet. Community amenities include a resident clubhouse, business center, fitness center and an outdoor swimming pool and sundeck.
The Property is located at the nexus of I-270 and I-70 providing convenient access to Washington, D.C. and Baltimore. Residents at the Property have connectivity to Suburban Maryland’s reputable employers via the I-270, including the National Institutes of Health, US Department of Energy and private biotech firms in the I-270 Technology Corridor.
The Property is located just minutes from Fort Detrick, a military biotechnical research facility in the United States employing over 10,000 employees.
Rose Valley Capital is a full-service owner and asset management company headquartered in Brooklyn, New York. The firm currently manages over 10,000 multifamily units and 2 million square feet of commercial space.
The financing was arranged by Morris Betesh and Alex Bailken of Meridian Capital.
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About Groupe BPCE
Groupe BPCE is the second-largest banking group in France. Through its 100,000 staff, the group serves 35 million customers – individuals, professionals, companies, investors and local government bodies – around the world. It operates in the retail banking and insurance fields in France via its two major networks, Banque Populaire and Caisse d’Epargne, along with Banque Palatine and Oney. It also pursues its activities worldwide with the asset & wealth management services provided by Natixis Investment Managers and the wholesale banking expertise of Natixis Corporate & Investment Banking. The Group's financial strength is recognized by four credit rating agencies with the following senior preferred LT ratings: Moody's (A1, stable outlook), Standard & Poor's (A, stable outlook), Fitch (AA-, negative outlook) and R&I (A+, stable outlook).
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