Fannie Mae in KFH Arlington deal
Reit UDR has acquired a 217-unit luxury apartment community in Arlington, Virginia - Twenty400 - for $84m in cash and debt. This explains its joint venture with Kuwait Finance House.
The deal contained $49.5m in interest-only debt from Fannie Mae, alongside equity contributions of $24.2m from KFH and $10.4m, under the 70:30 terms of the joint venture.
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