Maverick Commercial Mortgage, Inc. Secures $5.4 Million Financing for Premier Student HousingComplex in Morgantown, WV
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Maverick Commercial Mortgage, Inc., a leading provider of commercial real estate financing, is pleased to announce the successful funding of a $5.4 million first mortgage refinanceloan for a student housing complex in Morgantown, West Virginia. The property, conveniently situatedacross the street from West Virginia University Campus, boasts 34 units and accommodates 114 beds,making it an ideal living space for students seeking a vibrant community.The financing was arranged in partnership with a national developer based in Indianapolis, Indiana, whois a repeat borrower of Maverick Commercial Mortgage, Inc. The loan, provided by a national bank,features a competitive 10-year fixed rate and a 25-year amortization period. The loan is non-recourse,offering added security and peace of mind to the borrower. Borrowers in today’s ever-changing market should be prepared for a more challenged debt environment while the real estate industry decides where loan terms need to be, said Ben Kadish, president and founder of Maverick Commercial Mortgage, Inc.“With that in mind, we are thrilled to have facilitated the financing for this exceptional student housingcomplex,” added Kadish. “With its prime location and impressive track record of maintaining fulloccupancy, this property represents a lucrative investment opportunity for our valued client.”This marks the second time that Maverick Commercial Mortgage, Inc. has financed this remarkableproperty, further exemplifying the trust and confidence placed in the company by its clients.
About Maverick Commercial Mortgage, Inc.
Maverick Commercial Mortgage, Inc., arranges a wide variety of commercial real estate loans rangingfrom $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.