Freddie Mac Provides $39M Refinance Loan For Aeon's 529-Unit Multifamily Portfolio In Minnesota

The transaction involves a multifamily asset located in Minnesota, comprising six properties with a total of 529 units. The addresses involved in the loan are 5601 Quebec Avenue North, 4309 Rhode Island Avenue North, 8300 Old Cedar Avenue South, 9100 Old Cedar Avenue South, 2324 East Old Shakopee Road, and 190 Larpenteur Avenue West. The financing provided for this asset totals $39,042,000, and it is classified as a refinance loan.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $39,042,000
• Asset Units: 529
• Lender: Freddie Mac
• Landlord: Aeon
• Broker: Victor Agusta & Jr. - Bellwether Enterprise (BWE)
• Loan Type: Refinance
• Market: New Hope, Bloomington & Saint Paul, MN

Bellwether Enterprise secured the loan from Freddie Mac to facilitate the refinance of the affordable housing portfolio. The financing aims to restructure existing debt across the properties while also allocating funds for necessary repairs and enhancing cash flow for the landlord, Aeon.