DALLAS-FORT WORTH — An affiliate of Miami-based investment firm Atlantic Pacific Cos. has received Freddie Mac agency loans totaling $112.4 million for the refinancing of three communities in the Dallas-Fort Worth metropolitan area.
The financing consists of a $40 million loan for Atlantic Stonebriar, a 294-unit asset located in The Colony, about 30 miles north of Dallas; $42.3 million in debt for Atlantic McKinney, a 343-unit community in McKinney, which is also roughly 30 miles north of Dallas; and a $30.2 million loan for Atlantic Station, a 324-unit development in Fort Worth.
Atlantic Pacific Cos. closed the loans in conjunction with fresh debt for four other properties, including three that are located in metro Atlanta and a fourth asset in Cary, North Carolina. The seven new mortgage loans are structured with five-year terms and fixed interest rates averaging approximately 5.1 percent.