Freddie Mac loan funds Colorado residential buy

BMC Investments received a $26.4m loan from Freddie Mac for its acquisition of the Lakeview Apartments in Westminster, Colorado. The 10-year (three years interest only) loan carries a 3.65% fixed-rate. BMC paid a reported $32m for the property, putting the loan-to-value at more than 82%. The seller, Belgarde Enterprises of Minneapolis, paid just $4.4m for the property in 1993. […]