Fannie Mae Refinances Multifamily In Orem, UT For $9.8M
1851 South Columbia Lane, Orem, Utah 84097, United States
$9,800,000
Units
81
Asset Type
MultiFamily
Closing
Jul 17, 2022
AI
Siena Villas LLC has recently completed a loan refinancing for their multifamily property located at 1851 S Columbia Ln in Orem, UT. The property consists of 81 units and is situated in a vibrant market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,800,000
- Lender: Fannie Mae
- Landlord: Siena Villas LLC
- Broker: Rob Prouty - Colliers Mortgage Southwest
This refinancing deal was facilitated by Rob Prouty from Colliers Mortgage Southwest, who represented Siena Villas LLC. The loan amount for this transaction was $9,800,000, and it was secured through Fannie Mae.
Players
Orem MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.62%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93