Lincoln Gains $33M, Acquires and Renames Apartments

KANSAS CITY, MO—Lincoln Property Co. recently acquired $33.3 million in first mortgage proceeds for the acquisition and renovation of Camden Passage, a 596-unit, garden-style apartment community here.

Berkeley Point Capital LLC provided the loan, which was structured under the Fannie Mae Delegated Underwriting and Servicing program as a 10-year, 3.6 percent fixed rate execution with three-years interest-only and seven-years yield maintenance.

Robert Cantizano, senior managing director with Berkeley, said in a statement that the deal accommodates a significant capital investment budget and the renaming of the property to Northland Passage.

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.