ASB Real Estate Investments has secured a $95 million loan for the WaterMarke Tower, a 35-story apartment building in downtown, the company announced Jan. 25.
The 10-year loan comes from Helaba, a German bank.
“This is an attractive long-term financing on a superior multifamily investment,” David Quigley, ASB managing director and chief investment officer, said in a statement. “We are also pleased to grow our relationship with Helaba.”
The WaterMarke Tower, at 705 W. 9th St., was completed in 2009. It has 214 units and 9,000 square feet of retail space leased to popular restaurant Faith & Flower.
The property is 95 percent leased.
The WaterMarke Tower was featured in the movie “Her.”
Commercial real estate reporter Hannah Madans can be reached at [email protected]. Follow her on Twitter @HannahMadans
