Permanent

Axiom Capital has arranged $22,760,000 in permanent financing for a newly constructed apartment complex in Brunswick, NY. The non-recourse loan was for 7 years at a fixed rate with 1 year of interest only. The loan also offered one 5-year extension option.

The project is a 160-unit Class A luxury apartment complex situated in the heart of one of the most desirable rental markets in the Capital District. The project is being constructed over two phases with the 160 units across 40 buildings. Units are either 2-bedroom with 2-bathrooms or 1-bedroom with 1-bathroom. Unit features include: 9-foot ceilings, luxury crown molding, wide-plank hardwood floors, stainless steel appliances, granite countertops, kitchen islands, ceramic tile baths, full-size washer and dryer in every unit, 1 car attached garage, private entrances, private patio or balcony, curbside garbage pick-up, window blinds, air conditioning and fire sprinkler system. Other property features/amenities include a pool and fitness center, free wi-fi and basic cable and secure-access entry to all buildings. To augment the complex, a clubhouse serves various needs and desires of the residents within. Offsite amenities include 138 acres of open preserve land and a future town park.