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The buyer funded its purchase in part with a $44 million loan from SunTrust Bank.
The Annapolis, Md., investment manager, which was acquired earlier this year by Brookfield Asset Management, also paid $55.5 million for several parcels next to the hotel and $20 million for an 18-hole golf course, bringing its total purchase price to ...
95 percent occupied. The buyer used a $31.8 million Freddie Mac loan to fund its purchase. The mortgage, which was originated by a venture of Walker & Dunlop and Apartment Realty Advisors, is expected to be securitized.
87 percent leased. The company assumed a $54 million loan against the property that was securitized through CD, 2006-CD2, has a 5.23 percent coupon and matures in January 2016. The mortgage required only interest payments through January 2011.
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