Nimes Real Estate Secures $18 Million Acquisition Loan From Fannie Mae For Multifamily Asset

The transaction involved a multifamily asset in the Midwest market, with a loan amount of $18,000,000. The acquisition of the property was facilitated through a loan provided by Fannie Mae, with terms structured for a 5-year duration, incorporating a 115 spread and full term interest-only payments. The debt service coverage ratio (DSCR) was established at 1.20x.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $18,000,000
• Lender: Fannie Mae
• Landlord: Nimes Real Estate
• Loan Type: Acquisition
• Loan Terms: 5yr Term | 115 Spread | Full Term IO | 1.20x DSCR
• Broker Representatives: George Skaff, Henry Stimler, Ricky Warner & William Weber - Newmark

The brokers representing the deal are George Skaff, Henry Stimler, Ricky Warner, and William Weber from Newmark. Their expertise contributed to the smooth facilitation of this loan transaction involving Nimes Real Estate as the landlord.