PNC Bank Provides $3.3M Refinance Loan For Norfolk Multifamily

The 90-unit multifamily property located at 903 S 16th Street in Norfolk, NE has been refinanced through a loan provided by PNC Bank. The property, a manufactured housing community, was refinanced for a loan amount of $3,275,000. The loan terms include a 10-year fixed-rate with a loan-to-value (LTV) ratio of 65% and full-term interest-only payments.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,275,000
• Address: 903 S 16th Street, Norfolk, NE
• Market: Norfolk, NE

The lender for this transaction was PNC Bank, providing the necessary financing for the refinancing. The landlord involved in this deal is the Keel Team, represented by Andrew Keel. Scott Modelski from Black Bear Capital Partners served as the broker in this transaction, facilitating the refinancing process.