Gantry Secures $8.5 Million Fannie Mae Refinance Loan For Rose Garden Apartments In Phoenix

The asset involved in this transaction is the Rose Garden Apartments, a multifamily property located at 21008 North 23rd Avenue in Phoenix, AZ. The property consists of 55 units and is being refinanced with a loan amount of $8,500,000 provided by Fannie Mae. The loan features a 10-year term with a fixed interest rate and interest-only payments for the first five years, transitioning to a 30-year amortization schedule thereafter.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $8,500,000
• Loan Type: Refinance
• Loan Terms: 10-year term, fixed interest rate with interest-only payments for the first half of the term
• Transition to a 30-year amortization schedule after five years
• Lender: Fannie Mae
• Address: 21008 North 23rd Avenue
• Market: Phoenix, AZ
• Units: 55

The brokers involved in securing the refinancing are Adam Parker, Andrew Christopherson, and Chad Metzger from Gantry. Their efforts facilitated the $8.5 million Fannie Mae loan for the Rose Garden Apartments, assisting in the financial restructuring of the property.