Pacific Northwest buyers drop $51M on affordable Weston apartments

Canadian real estate investment firm Spira Equity Partners and Foundation For Affordable Housing bought a low-income apartment complex in Weston for $50.5 million.  Vancouver, British Columbia-based Spira and Bend, Oregon-based Foundation For Affordable Housing bought the 300-unit The Falls of Bonaventure at 201 Racquet Club Road, according to records and real estate database Vizzda. The buyers took out $53.1 million in loans for the purchase, consisting of a $28.6 million Freddie Mac senior debt and a $24.5 million subordinate loan from an entity tied to Spira.  Completed in 1989 on a nearly 20-acre site, Falls of Bonaventure consists of a […]This article originally appeared on The Real Deal. Click here to read the full story.