Fannie Mae Provides $59.1 Million Refinance Loan For Chicago Multifamily Portfolio

The transaction involves a multifamily asset located in Chicago, comprising a total of 539 units. The addresses associated with this multifamily property include 523 West Fullerton Parkway, 536 West Grant Place, 543 West Wellington Avenue, 527 West Aldine Avenue, 2616 North Hampden Court, 649 West Oakdale Avenue, 440 West Barry Avenue, 3941 North Pine Grove Avenue, 451 West Melrose Street, and 530 West Arlington Place. The loan amount for the refinance is $59,100,000 with full-term interest-only options and varying interest rates between 5.14% and 5.25% over terms of 7, 10, and 12 years.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $59,100,000
• Lender: Fannie Mae
• Interest Rate Range: 5.14%-5.25%
• Loan Type: Refinance
• Loan Terms: 7, 10, & 12 Year Loan Terms
• Full-Term IO Spread Range: 1.34%-1.44%
• Brokers: Darragh Griffin & Quinn Keenan - Essex Capital Markets

Darragh Griffin and Quinn Keenan from Essex Capital Markets represent the brokers in this refinancing transaction. Their involvement plays a crucial role in facilitating the loan process with Fannie Mae, addressing the needs of the multifamily asset within the competitive Chicago market.