Kentaurus Capital Secures $13.54 Million Refinance From Fannie Mae For Maplewood Multifamily Portfolio

The transaction involves a multifamily asset located at 2275 Atlantic Street and 2140 Barclay Street in Maplewood, MN, comprising 165 units. The property, known as Sherwood Glen and Keller Flats, consists of garden-style apartments originally built in the 1960s. Kentaurus Capital upgraded the asset after its acquisition in 2021, and the refinancing will aid in the long-term preservation of the properties.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $13,540,000
• Loan Type: Refinance
• Loan Terms: five-year
• Lender: Fannie Mae
• Landlord: Kentaurus Capital
• Broker Representatives: Lucas Goring & Logan McCarthy - NorthMarq
• Units: 165
• Market: Maplewood, MN

NorthMarq arranged the refinancing through Fannie Mae DUS for Kentaurus Capital. The financing secured against Sherwood Glen and Keller Flats ensures continued investment in the properties, located near key employment corridors in the Twin Cities area, reflecting Kentaurus Capital's commitment to affordable housing.