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.