BH Equities Secures $50.18 Million Acquisition Loan From Freddie Mac For Multifamily Property In Lees Summit

The asset involved in this closed transaction is a multifamily property located at 701 Northeast Tudor Road in Lees Summit, MO. It encompasses a total square footage of 388,000 and consists of 432 units. The loan amount secured for this acquisition was $50,178,000 with Freddie Mac as the lender. The financing terms include a 115 spread, full term interest-only payments, a loan-to-value ratio of 65%, and a fixed rate over 7 years.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $50,178,000
• Lender: Freddie Mac
• Landlord: BH Equities
• Loan Type: Acquisition
• Loan Terms: 115 Spread, Full Term IO, 65% LTV, 7yr Fixed

The brokers involved in this transaction are Ari Schwartzbard, William Weber, Henry Stimler, Matthew Mense, Ricky Warner, and Daniel Sarsfield, all representing Newmark in this deal.