Natixis Corporate & Investment Banking originated $73.63 million, in five-year, floating-rate financing to subsidiaries of Rose Valley Capital, an affiliate of Hampshire Properties, to finance the acquisition of Mansion at Bala, a 276-unit, Class A multifamily property located in Philadelphia.
Built in 2010, the property includes a mix of one-bedroom, two-bedroom and three-bedroom apartments with an average unit size of 1,059 square feet. Community amenities include a resident’s clubhouse, business center, fitness room, outdoor swimming pool and parking garage.
The property is situated along City Avenue and adjacent to Bala Cynwyd, one of suburban Philadelphia’s main line communities.
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 Robert Lipson, TJ Piper and Jeremy Lynch from Berkadia Commercial Mortgage.