Maverick Commercial Mortgage, Inc. Announces $4,000,000 Financing On an 81 Unit Multi Family Residential Portfolio in Frankfort and and Rossville, IN.
- Posted by admin in Maverick News
- No Comments
-
Maverick Commercial Mortgage, Inc. has funded a first mortgage refinance loan for $4,000,000 with a repeat borrower based in Lafa-yette, IN. The loan, provided a regional lending institution, is a 10 year fixed rate loan, interest only for the first year. The rate is fixed at low spread over the 5 Year US Treasury and will readjust at the same base rate and spread in 5 years. The loan has a 25 year amortiza-tion. Proceeds of the loan were used to repay existing debt and to return equity to the sponsors. The portfolio is 81 units spread across 15 different buildings, 14 buildings in Frankfort and 1 in Rossville. The portfolio is at 97% occu-pancy.
About Maverick Commercial Mortgage, Inc.
Maverick Commercial Mortgage, Inc., arranges a wide variety of commercial real estate loans ranging from $2,000,000 to $100,000,000 for its middle market real estate developer and investor clients. Please contact Ben Kadish at 312-268-6000, 312-953-4344, or at ben.kadish@mavcm.com.