Keel Team REI Refinances 197-Unit MHC Portfolio In Ludington & Crookston For $7.8M | 5040 Rasmussen Road; 202 7th Avenue South; & 101 Willow Street | Scott Modelski | MultiFamily | Loan

Summary

Loan

MICHIGAN

MultiFamily

30 sqft

Summary of transation details

Property Type: Multifamily
Transaction Amount: $7,808,000
Units: 197
Address: 5040 Rasmussen Road; 202 7th Avenue South; 101 Willow Street
Market: Ludington, MI & Crookston, MN
Lender: PNC Bank
Landlord: Keel Team Real Estate Investments
Broker: Scott Modelski - Black Bear Capital Partners

Players

All
2

Agents
1
Agencies
1

Scott Modelski

Managing Director

Black Bear Capital Partners

Details

Deal Summary

FINANCED

IMAGE: Scott Modelski DATE: 02/09/2024 ADDRESS: 5040 Rasmussen Road; 202 7th Avenue South; & 101 Willow Street MARKET: Ludington, MI & Crookston, MN ASSET TYPE: Multifamily ~ UNITS: 197 LENDER: PNC Bank LANDLORD: Keel Team Real Estate Investments BROKER: Scott Modelski (@Scott_R_Modelski) - Black Bear Capital Partners (@BlackBearCapitalPartners) LOAN AMOUNT: $7,808,000 LOAN TYPE: Refinance LOAN TERMS: The MHC portfolio, spanning 197 units, was refinanced via a 10-year fixed rate loan at 6.34% and interest-only payments for five years. TradedPartner

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Address5040 Rasmussen Road; 202 7th Avenue South; & 101 Willow Street

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