KH Properties Secures $20M Loan For Granite City Multifamily Property

This multifamily property is located at 4078 Kathy Dr in Granite City, Il. It was recently involved in a closed transaction facilitated by John J. Schorgl of Berkadia. The property, owned by KH Properties, garnered significant attention in the market.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $20,000,000
• Loan Amount: $20,000,000
• Loan Terms: 10-year Fannie Mae loan with three years of interest only and a rate in the low 3% range
• Units: 290

The loan obtained for this property amounted to $20,000,000. The 10-year Fannie Mae loan features three years of interest only and a rate in the low 3% range. This financing arrangement provided KH Properties with the necessary funds for the transaction.

John J. Schorgl of Berkadia played a crucial role as the broker in this deal. His expertise and guidance ensured a smooth and successful transaction for all parties involved.