IMAGE: Scott Modelski
ADDRESS: 100 S 1st Ave, 4462 E 1251st Rd, 111 S 13th Ave, 1570 N 30th Rd, & 2830 4th St
MARKET: Mendota, Earlville, Ottawa, & Peru, IL
ASSET TYPE: Multifamily
BROKER: Scott Modelski – BlackBear Capital Partners (@BlackBearCapitalPartners)
LOAN AMOUNT: $5,200,000
LOAN TERMS: The 215-unit MHC portfolio, spanning five (5) sites, was refinanced with a 10-year, non-recourse fixed-rate loan at a 3.25% interest rate with interest-only payments for the duration of the term. The financing was provided by a CMBS lender.
LOAN TYPE: Refinance