Keel Team Refinances 219-Unit Manufactured Housing Portfolio In Etna Green, Gary, And Salem With $6.7M Loan From PNC Bank

The 219-unit multifamily property located at 210 S Main Street, 3650 W Ridge Road, and 29549 Salem Alliance Road has undergone a refinancing transaction. The properties are situated in Etna Green, IN, Gary, IN, and Salem, OH, respectively. The asset consists of a manufactured housing portfolio with a total of 219 units.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $6,671,000
• Lender: PNC Bank
• Landlord: Keel Team – Andrew Keel
• Broker: Scott Modelski - Black Bear Capital Partners
• Loan Type: Refinance
• Loan Terms: The 219-unit manufactured housing portfolio was refinanced with a 10-year fixed-rate loan and full-term interest-only payments.

The loan was provided by PNC Bank. The landlord, Keel Team, represented by Andrew Keel, facilitated the transaction. The brokerage services were managed by Scott Modelski from Black Bear Capital Partners. Apart from the previously mentioned loan amount, the refinancing deal involved a 10-year fixed-rate loan with full-term interest-only payments.