Cushman & Wakefield Represents Landlord In $24.72 Million Cheektowaga Multifamily Portfolio Acquisition

This transaction involves a multifamily portfolio comprising two properties: 3375 Genesee Street (Belvedere Manor) and 1175 George Urban Blvd (U-Crest Apartments) located in Cheektowaga. The portfolio features a total of 340 units and has secured a loan amount of $24,720,000 for acquisition purposes. The loan terms include a fixed interest rate of 5.18% for 10 years with 60 months of interest-only payments.

Summary of transaction details:

• Property Type: Multifamily Portfolio
• Transaction Amount: $24,720,000
• Loan Type: Acquisition
• Loan Terms: 5.18% fixed for 10 years, 60 months I/O
• Address: 3375 Genesee Street (Belvedere Manor) & 1175 George Urban Blvd (U-Crest Apartments)
• Market: Cheektowaga
• Units: 340
• Landlord's Representative: Brian Anderson & Eddie Miro - Cushman & Wakefield

Brian Anderson and Eddie Miro from Cushman & Wakefield represented the landlord in this transaction, facilitating the details surrounding the acquisition and loan structuring. They played a pivotal role in ensuring all facets of the deal were catered to effectively through their expertise in the multifamily market.