Barclays Refinances $5.2M Multifamily Portfolio In Mendota, Earlville, Ottawa, And Peru, IL
100 South 1st Avenue, 4462 East 1251st Road, 111 South 13th Avenue, 1570 North 30th Road, & 2830 4th Street
1,000 SF
Summary
The 215-unit multifamily property located at 100 S 1st Ave, 4462 E 1251st Rd, 111 S 13th Ave, 1570 N 30th Rd, and 2830 4th St in Mendota, Earlville, Ottawa, and Peru, IL was involved in a recent loan transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,200,000
- Market: Mendota, Earlville, Ottawa, and Peru, IL
The loan for the property was provided by Barclays. The borrowing parties were represented by Scott Modelski from BlackBear Capital Partners. The 10-year, non-recourse fixed-rate loan has an interest rate of 3.25% and features interest-only payments for the entire duration of the term. The financing was offered by a CMBS lender. The loan was a refinance type, and the property consists of 215 units.
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