/

|

CBRE has arranged a $47.5 million bridge loan for the refinancing of Phase I of Mi-Place@Downingtown, a 205-unit apartment complex located on the western outskirts of Philadelphia. The property comprises six three-story buildings that house one- and two-bedroom apartments and three-bedroom townhomes. Amenities include a pool, fitness center, clubhouse, outdoor grilling and dining stations and pickleball and basketball courts. Matthew Klauer and Cassandra Russell of CBRE arranged the three-year loan through an entity managed by Argentic Investment Management on behalf of the sponsor, Fernmoor Homes. At full build-out, Mi-Place@Downingtown will total 400 units.