At Philadelphia Eagles and Dallas Cowboys have long been bitter rivals in the National Football League‘s NFC East, but both markets have a common link in one of the latest multifamily financings of commercial real estate.
Ares Real Estate has inked a $107.5 million loan to refinance its apartment portfolio in Dallas-Fort Worth and the Philadelphia area that together includes nearly 600 units, Commercial Observer can first report.
Sumitomo Mitsui Banking Corporation (SMBC) provided loans to Ares Axis 110 property in Richardson, Texas, and to Skye 750 Kab in King of Prussia, Pa.
CBRE manage transactions with a global institutional debt advisory group consisting of Tom Traynor, Tom Rug, Peter Grisinger, Self-taught Arman and Kayla Carlostian.
2017-built Axis 110 in 110 W CityLine Drive in Richardson has 351 apartments next to the Dallas Area Rapid Transit CityLine Station. Resident amenities include a swimming pool, skyline terrace, fitness center and 8,110 square foot store.
Skye 750, the 750 Moore Road 20 miles northwest of Philadelphia, completed in 2019 with 248 units. Amenities include a pool, fire pit, dog park, co-working space, health club and sauna.
SMBC did not immediately return a request for comment. Ares declined to comment
Andrew Coen can reach it acoen@commercialobserver.com.