AK Properties Secures $13 Million Loan From Fannie Mae For Multifamily Acquisition In Midwest

The property involved is a multifamily asset located in the Midwest, featuring a total of 129,000 square feet and comprising 150 units. It is owned by AK Properties and has secured a loan of $13,000,000 from Fannie Mae for acquisition purposes.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $13,000,000
• Loan Type: Acquisition
• Loan Terms: 10yr Term | 5.25% All-in Rate | 6yrs IO | 75% LTV
• Lender: Fannie Mae
• Landlord: AK Properties
• Brokers: Ricky Warner, Henry Stimler, George Skaff & William Weber - Newmark

The brokers representing the transaction are Ricky Warner, Henry Stimler, George Skaff, and William Weber, all affiliated with Newmark. Their involvement contributes to the facilitation of the loan process securing favorable terms for the landlord.