VennPoint Real Estate Secures $38M Acquisition Loan From Fannie Mae

The multifamily property involved in the transaction is located in the Midwest market and comprises 332 units with a total square footage of 257,096. The property was acquired for $38,000,000 with the assistance of a loan from Fannie Mae. The financing structure included debt and common equity sourced, featuring a 7-year loan term with a 78% loan-to-value ratio. The loan carried a 5.75% all-in rate with the initial three years being interest-only.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $38,000,000
• Lender: Fannie Mae
• Landlord: VennPoint Real Estate
• Loan Brokers: Ricky Warner, Henry Stimler, William Weber - Newmark
• Sale Broker: George Skaff - Newmark

The key individuals and companies involved in the deal include Ricky Warner, Henry Stimler, and William Weber from Newmark, who acted as the loan brokers facilitating the acquisition loan from Fannie Mae. Additionally, George Skaff from Newmark represented the sale aspect of the transaction, showcasing the collaborative efforts of these professionals in successfully closing the deal.