HUDSON REALTY CAPITAL MAKES WHOLE LOAN PURCHASE OF A $15.1 MILLION FIRST MORTGAGE, SECURED BY MULTIFAMILY COMPLEX IN CARSON CITY, NV

Property is Newly Constructed 132-Unit Complex on 5.29 Acres

Hudson Realty Capital recently made a whole loan purchase of a $15.1 million first mortgage, secured by a newly constructed 132-unit garden style apartment complex in Carson City, Nev.

The property, situated on 5.29 acres in the northern part of the city, includes a recreation room, swimming pool, spa and fitness facility and conference room as well as 265 parking spaces. The location offers easy freeway access, proximity to Carson Tahoe Regional Medical Center and ease of commute north to Reno.

“This investment exemplifies the high quality debt purchase opportunities that Hudson is currently seizing as a result of market conditions. This year alone Hudson has purchased several performing whole loans and B-Notes as well as non-performing whole loans,” said Spencer Garfield, managing director at Hudson. “With specific regards to the Carson City investment, we were impressed with the quality of asset and sponsorship, and, after extensive diligence on the market and asset level economics, we felt this investment offered a very favorable risk-adjusted return.”

This is one of several recent investments made by Hudson in the western United States, including a number in Arizona, Texas, Colorado and California.

Hudson Realty Capital currently has more than $2.5 billion of assets under management. Since the formation of its initial two funds in 2002, the company has closed more than $3 billion in debt and equity transactions.