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Iowa City, Iowa, United States

Monitor Finance Secures $199.1M Fannie Mae Loan For Iowa, Nebraska & South Dakota Multifamily Portfolio
FINANCEDMultiFamily

Monitor Finance Secures $199.1M Fannie Mae Loan For Iowa, Nebraska & South Dakota Multifamily Portfolio

Iowa City, Iowa, United States

$199,100,000

Building Size

Asset Type

MultiFamily

Closing

Jun 27, 2022

AI

A multifamily portfolio in Iowa, Nebraska, and South Dakota has undergone a recent transaction. The property, which is owned by Monitor Finance, was involved in a financing deal with Fannie Mae. Brett Hood of Northmarq represented the landlord in this transaction.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $199,100,000

In addition to the financial aspects, this transaction highlights the collaboration between Monitor Finance, the property owner, and Fannie Mae, the lending institution. Brett Hood, a representative from Northmarq, played a crucial role in facilitating the deal between the parties.

Players

Brett Hood

NorthMarq

Broker

$455.6M

vol

8 deals

Broker
Fannie Mae
Fannie MaeLender

Iowa City MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.08%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93