Freddie Mac Provides $15M Acquisition Loan For 228-Unit Multifamily In Lexington, KY

The multifamily property located at 3501 Pimlico Parkway in Lexington, KY was recently involved in a closed transaction. The property is approximately 197,000 square feet and consists of 228 units. The transaction involved an acquisition loan from Freddie Mac for a total amount of $15,000,000. The loan terms include a 5-year fixed rate with a 78% loan-to-value ratio and 2 years interest only. The loan has a spread of 185 basis points.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $15,000,000
• Square Footage: 197,000
• Units: 228
• Lender: Freddie Mac
• Landlord: RFM Group
• Brokers: Ricky Warner, Henry Stimler & William Weber - Newmark

Ricky Warner, Henry Stimler, and William Weber from Newmark represented the buyer and seller in this transaction. The RFM Group acted as the landlord. This deal involved an acquisition loan from Freddie Mac, demonstrating the lender's trust in the value and potential of the multifamily property in Lexington, KY.