The company took out a Freddie Mac loan for this value-add purchase.
Matheson Capital has purchased Chateau Apartments, a 168-unit multifamily property in Carrboro, N.C., for $32.8 million, according to Yardi Matrix information. Magma Equities sold the asset.
The buyer took out a $14 million Freddie Mac loan originated by Walker & Dunlop, the same data provider shows. The note is set to expire in July 2030. Magma Equities previously acquired the asset in April 2021 for $18.7 million and renovated two thirds of the units.
The new owner plans to enroll the community into the North Carolina affordable housing tax abatement program to remove about 75 percent of the property tax burden. Additionally, the firm will renovate the common-area spaces…