Rose Valley Capital, an affiliate of Hampshire Properties, has secured $70.01 million in floating-rate financing to acquire The Fields at Rock Creek, a Class A multifamily property in Frederick, Md., Commercial Observer has learned.
Natixis provided the five-year financing, while Morris Betesh and Alex Bailkin of Meridian Capital Group negotiated the debt.
“We are thrilled to expand our Mid-Atlantic presence with the addition of The Fields at Rock Creek in Frederick, MD. This community’s prime location will put residents at the center of everything and is equidistant to the largest economic engines in the greater DC and Baltimore MSAs,” said Daniel Rosenthal, CEO of Rose Valley Capital. “From top-of-the-line amenities to endless employment and recreational opportunities close by, this community makes for an unrivaled living experience for a wide range of potential residents.”
Located at 100 Alessandra Court, the 314-unit property was built in 1990 with a mix of one-bedroom, two-bedroom and three-bedroom units. Community amenities include a resident clubhouse, a business center, a fitness center and an outdoor swimming pool and sundeck.
“This transaction illustrates Natixis’ continued focus in the multifamily sector with best-in-class sponsors,” said Jared Zimmel, executive director, real estate & hospitality at Natixis Corporate and Investment Bank (CIB) Americas. “We believe this property is well positioned in the market to continue the strong performance that it has demonstrated historically. This financing marks Natixis CIB’s second financing transaction with Hampshire Properties this year.”