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NorthMarq's Brett Hood Facilitates $16.1M Loan For 180-Unit Multifamily In Urbandale

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FINANCED
$16,095,000

Iowa

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NorthMarq's Brett Hood Facilitates $16.1M Loan For 180-Unit Multifamily In Urbandale

4454 142nd Street

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MultiFamily
Financed
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Summary

IOWA
Asset Type:MultiFamily
Transaction Type:Loan

Walnut Lake Apartments, a 180-unit garden-style community located at 4454 142nd Street in Urbandale, Iowa, secured a $16,095,000 acquisition financing package. Freddie Mac provided the loan, and MLG Capital acted as the landlord in this transaction.

Summary of transaction details:

Brett Hood, representing MLG Capital, successfully secured the acquisition financing package for Walnut Lake Apartments. This deal highlights the expertise and negotiation skills of Brett Hood, the broker from NorthMarq, who facilitated the transaction between MLG Capital and Freddie Mac.

Players

Brett Hood
8 deals$455.6M volume
BROKER

Freddie Mac
LENDER

Details

FINANCED
IMAGE: 06/05/2024 ADDRESS: 4454 142nd Street MARKET: Urbandale, IA ASSET TYPE: Multifamily ~ UNITS: 180 LENDER: Freddie Mac LANDLORD: MLG Capital BROKER: Brett Hood - NorthMarq LOAN AMOUNT: $16,095,000 LOAN TYPE: Acquisition NOTE: Brett Hood, on behalf of MLG Capital, secured a $16,095,000 acquisition financing package for Walnut Lake Apartments, a 180-unit garden-style community located in Urbandale, Iowa.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$16,095,000.00

Monthly NOI$107,300.00
Monthly Debt Service$101,731.35
Change in Cash Flow$0.00
Refinance Proceeds$0.00