Azura Secures $16 Million Loan From Fannie Mae For Columbus Multifamily Acquisition

The transaction involved a multifamily asset located in Columbus, OH, comprising 156 units. A loan amount of $16,000,000 was secured to facilitate the acquisition of this property, with a loan term set at 5 years and an all-in interest rate of 5.39%. The loan features a debt service coverage ratio of 1.25x and includes full-term interest-only payments.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $16,000,000
• Lender: Fannie Mae
• Landlord: Azura
• Loan Brokers: Ricky Warner, Henry Stimler, and William (Bill) Weber - Newmark
• Sale Broker: George Skaff - Newmark
• Loan Type: Acquisition
• Loan Term: 5yr Fixed
• All-in Rate: 5.39%
• DSCR: 1.25x
• Payment Structure: Full Term IO

The deal was brokered with key individuals such as Ricky Warner, Henry Stimler, and William (Bill) Weber representing the loan brokerage services through Newmark. George Skaff also from Newmark, acted as the sale broker in this transaction, coordinating the property acquisition for Azura.