American Landmark Apartments Secures $64.48 Million Refinance Loan From Freddie Mac For Multifamily Asset

The property asset involved in this transaction is a multifamily building located at 2516 Annapolis Way in the Brandon market. It consists of 456 units and spans a total of 975,000 square feet. The loan amount secured for this asset is $64,475,000, with a refinance loan type featuring a 5.08% all-in rate, a 35-year amortization period, a debt service coverage ratio of 1.25x, and the loan term includes full term interest-only payments and a loan-to-value ratio of 65%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $64,475,000
• Address: 2516 Annapolis Way
• Market: Brandon
• Units: 456
• Square Footage: 975,000
• Lender: Freddie Mac
• Landlord: American Landmark Apartments
• Loan Type: Refinance
• Loan Terms: 5.08% All-in Rate | 35yr Amortization | 1.25x DSC | Full Term IO | 65% LTV

The deal was brokered by the team from Newmark, which includes Matthew Mense, Ari Schwartzbard, Henry Stimler, William Weber, and Ricky Warner. Their involvement facilitated the completion of the refinance transaction for the landlord, American Landmark Apartments, contributing to the financial management of this multifamily property.