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$100 million in Apartment Transactions in Three Different Markets with Three Different Life Insurance Companies

October 29th, 2017

Pinnacle Financial Group is pleased to announce the closing of four multifamily acquisitions totaling $100 million. The transactions were for one of Pinnacle’s local borrowers who acquires luxury multifamily properties nationwide. The four properties that Pinnacle helped the sponsor finance are located in Murfreesboro, Tennessee (Nashville), two in Raleigh, North Carolina, and Richmond, Virginia. Each transaction was executed with a separate capital source on a non-recourse basis, with 10-year terms, and 25-30-year amortizations and at rates ranging from 3.45-4.15% (all of which were 40-50 basis points inside of agency pricing).

Regarding the closing of the three luxury multifamily transactions, President Jim Leonard noted, “We were pleased to be able to provide the borrower with three competitive long-term financing options to help one of our repeat local borrowers further diversify their multifamily portfolio.”

Pinnacle Financial Group was formed in 1990 and is currently one of the largest independently owned mortgage banking companies in the Midwest. Pinnacle is a member of the Strategic Alliance Mortgage (SAM), an organization of twenty-two mortgage banking companies with fifty-one offices throughout the U.S. SAM ensures local expertise within a powerful national platform. Pinnacle consistently delivers their clients the best possible capital available in the market. For more information on Pinnacle, it’s partners and services can be found at www.pinnaclefinnacialgroup.com.

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