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Les Hardin Secures $7.8M Fannie Mae Loan For 72-Unit Affodable Housing In Chicago
FINANCED
$7,800,000
Illinois
See Similar DealsMultiFamily
Financed 03/25/2024
FINANCED
Les Hardin Secures $7.8M Fannie Mae Loan For 72-Unit Affodable Housing In Chicago
MultiFamily
Financed 03/25/2024
Summary
Asset Type:MultiFamily
Transaction Type:Loan
The refinancing of Southeast Englewood and South Wabash, a 72-unit scattered site affordable housing property in Chicago, was successfully secured through a $7.8 million Fannie Mae loan. Les Hardin from Colliers Mortgage structured the 10-year term loan, with assistance from LSG Lending Advisors in arranging the financing.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $7,800,000
- Units: 72
- Lender: Les Hardin - Colliers Mortgage
- Broker: LSG Lending Advisors
- Loan Type: Refinance
- Loan Terms: 10-year
Colliers Mortgage, led by Les Hardin, played a crucial role in securing the significant $7.8 million Fannie Mae loan for the multifamily property located in Chicago. LSG Lending Advisors also contributed to the deal by effectively arranging the financing, showcasing the collaborative effort of key individuals and companies involved in the successful refinancing transaction.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,800,000.00
Monthly NOI$52,000.00
Monthly Debt Service$49,301.31
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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