RENTV.com A venture of Trion Properties and Walker & Dunlop has paid $18.25 million, or $134,191/unit, for the 136-unit Bella Pointe Apartments in Rancho Cordova, Calif. The venture was represented by Marcus & Millichap Inc. The seller was not disclosed. ...
The buyer financed the purchase with a $19.25 million loan that has a 3.71 percent rate. The loan requires only interest payments until December 2015. After that, it amortizes over a 30-year schedule until its 2022 maturity.
The property had backed $17 million of debt that was securitized through Banc of America Commercial Mortgage Trust, 2007-4. It was transferred to the deal's special servicer, LNR Partners, in November 2008 when its previous owner, DBSI Inc. of Boise, ...
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