P&R Companies Secures $25.54M Fannie Mae Loan To Refinance 147-Unit Multifamily In Hermantown

The asset involved in this transaction is a 147-unit multifamily property located at 4498 Ugstad Road in Hermantown, MN. The loan amount for this refinancing deal is $25,540,000, supported by Fannie Mae, which indicates a significant investment in the property to enhance its financial structure.

Summary of transation details:

• Property Type: MultiFamily
• Transaction Amount: $25,540,000
• Address: 4498 Ugstad Road
• Market: Hermantown, MN
• Landlord: P&R Companies
• Lender: Fannie Mae
• Loan Type: Refinance
• Brokers: Billy (Bill) Mork, Mike Vannelli & Joel Torborg - CBRE

The transaction was facilitated by brokers Billy (Bill) Mork, Mike Vannelli, and Joel Torborg from CBRE. They secured the refinancing loan on behalf of P&R Companies, navigating improved underwriting and favorable treasury movements to close the deal above initial projections.