Gregory Kavoklis - Matthews Real Estate Secures $14.3M Refinance Loan For 400& Unit Multifamily & Student Housing Portfolio In Upper Midwest
Matthews Real Estate Investment Services brokers loan for $14,291,000 in Upper Midwest
Summary
A refinancing loan of $14,291,000 was secured for a multifamily and student housing property in the Upper Midwest. The property consists of 400,000+ square feet and includes 400 units across 7 buildings. The loan was obtained through a mix of interim and permanent financing on a nonrecourse basis, with execution from both agency and debt fund sources. The financing arrangement allows for repositioning flexibility in the future, as a large percentage of the returned equity is not subject to prepayment penalty provisions.
Summary of transation details
- Property Type: Multifamily & Student Housing
- Transaction Amount: $14,291,000
- Asset Type: Multifamily & Student Housing
- Square Footage: 399,786
- Units: 400
- Address: Upper Midwest
Gregory Kavoklis from Matthews Real Estate Investment Services facilitated the loan transaction as the broker. The loan was arranged with a focus on securing a mix of interim and permanent financing options. This involved coordinating with both agency and debt fund sources to obtain nonrecourse financing for the property. The multifamily portfolio, which includes a student housing component, spans 7 buildings in the Upper Midwest. The flexibility of the financing arrangement enables future repositioning opportunities, thanks to the absence of prepayment penalty provisions on a significant portion of the returned equity.
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