Newmark Facilitates $58.1M Acquisition Loan For Midwest Multifamily Property

The recent transaction in the Midwest market involved a multifamily property. The property, which was acquired, went through a loan process facilitated by Fannie Mae. The loan amount for this acquisition was $58,100,000. The terms of the loan included a 5-year term with a Fannie MaeExecution, a spread of 175, full-term interest-only payments, and a loan-to-value ratio of 65%.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $58,100,000

Ricky Warner, Henry Stimler, William Weber, and Nick Webb from Newmark served as the loan brokers for this transaction, representing the buyer in securing the loan from Fannie Mae. Additionally, George Skaff, also from Newmark, acted as the sale broker for the deal, facilitating the acquisition of the multifamily property.