{"id":267351,"date":"2026-08-18T05:32:23","date_gmt":"2026-08-18T05:32:23","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-pa\/267351\/"},"modified":"2026-08-18T05:32:23","modified_gmt":"2026-08-18T05:32:23","slug":"cbre-fernmoor-lands-85-million-loan-for-new-318-unit-rental-project-outside-philly","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-pa\/267351\/","title":{"rendered":"CBRE: Fernmoor lands $85 million loan for new 318-unit rental project outside Philly"},"content":{"rendered":"

Mi-Place at Downingtown at 800 Horseshoe Pike in Downingtown, Pennsylvania \u2014 Courtesy: CBRE<\/p>\n

By Joshua Burd<\/p>\n

The developer of a new 318-unit rental community in southeast Pennsylvania has refinanced the property for $85 million, brokers with CBRE announced recently.<\/p>\n

According to a news release, Barings provided the loan in connection with the complex at 800 Horseshoe Pike in Downingtown. That follows Fernmoor\u2019s completion of the property, a collection of 200 apartments and 118 townhomes some 30 miles west of Philadelphia, where renters have quick access to Route 30, the Pennsylvania Turnpike and SEPTA Regional Rail service.<\/p>\n

CBRE\u2019s Matthew Klauer and Cassandra Russell, based in Philadelphia, arranged the financing on the borrower\u2019s behalf.<\/p>\n

\u201cBarings recognized the quality of both the sponsorship and the asset,\u201d Klauer said. \u201cMi-Place at Downingtown stands out within the Philadelphia suburbs due to its scale, differentiated product mix and exceptional location in one of the region\u2019s strongest suburban growth corridors.\u201d<\/p>\n

CBRE added that the property has one-, two- and three-bedroom floorplans and several unit and community amenities, including a resort-style pool, a clubhouse, a fitness center, pickleball courts, a dog park, electric vehicle charging stations and smart-home technology.<\/p>\n

\u201cSecuring this financing is an important milestone for the continued success of Mi-Place at Downingtown,\u201d said Jeffrey Fernbach, president of Fernmoor. \u201cThe property has delivered strong leasing momentum and reinforces our belief that there is significant demand for high-quality rental housing that combines modern amenities, larger living spaces and convenient suburban access to major employment centers.\u201d<\/p>\n

Jonathan Neff, a director with Barings, added: \u201cMi-Place at Downingtown is a compelling opportunity backed by an experienced sponsor and a high-quality asset in a desirable suburban market. We are pleased to provide financing for a project that is well-positioned to benefit from continued rental housing demand in Chester County and the greater Philadelphia region.\u201d<\/p>\n


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