FINANCED
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
MultiFamily
1,000 SF
1,000 SF
Financed 1 year ago
Summary
Loan
ILLINOIS
MultiFamily
1,000 sqft
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.
Players
Details
FINANCED
IMAGE: Scott Modelski
DATE: 08/17/2021
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
LENDER: Barclays
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
UNITS: 215View on map
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Address100 South 1st Avenue, 4462 East 1251st Road, 111 South 13th Avenue, 1570 North 30th Road, & 2830 4th Street
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