Santander Bank Provides $27.4M Refinance Loan For Memphis Multifamily Property With Brokers Motti Blau & Mendy Pfeifer

The asset involved in the transaction is a multifamily property located at 1368 Winchester Road in Memphis, TN. It consists of 438 units and has a cap rate of 5.55%. The loan amount secured for this property is $27,400,000, primarily for refinancing purposes with terms set at 5 years and 2 years of interest-only payments.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $27,400,000
• Loan Type: Refinance
• Loan Terms: 5 Years, 2 Years IO
• Market: Memphis, TN
• Units: 438
• Cap Rate: 5.55%
• Lender: Santander Bank
• Broker: Motti Blau & Mendy Pfeifer - Eastern Union

Key individuals involved in the transaction include Motti Blau and Mendy Pfeifer, who represent the broker agency Eastern Union in facilitating this refinance loan from Santander Bank. Their expertise played a crucial role in the negotiations and execution of the deal.