Fannie Mae Provides $30M Loan For Multifamily Acquisition In Columbus, OH

The multifamily property in Columbus, OH has been involved in a loan transaction. The lenders, Fannie Mae, provided a loan amount of $30,000,000 for the acquisition. The loan terms include a 7-year fixed rate, 72% loan-to-value ratio, and T+140. Additionally, there is a 4-year interest-only period. It is worth noting that the loan proceeds were increased by $1.3MM from the application to closing despite a 50bp hike in the treasury.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $30,000,000
• Lender: Fannie Mae
• Brokers: Ricky Warner, William Weber, Henry Stimler, Matthew Mense & Nick Webb - Newmark
• Loan Type: Acquisition
• Loan Terms: 7-yr Fixed Rate, 72% LTV, T+140, 4yrs Interest Only
• Loan Proceeds Increased: $1.3MM

Ricky Warner, William Weber, Henry Stimler, Matthew Mense, and Nick Webb from Newmark were the brokers involved in the loan deal. They played a crucial role in securing the loan on behalf of the buyer. Their expertise and negotiation skills contributed to the successful acquisition of the multifamily property, ensuring favorable terms and conditions for the buyer.