Multi-Family Housing
| Amount: | $10,700,000 |
|---|---|
| Property Type: | Apartments |
| Loan Type: | Interest only period, Non-recourse |
| Loan Term: | 10 year term |
|
Caffrey & Company LLC has secured a $10.7 million loan through one of its life insurance correspondents for this multi-family housing property. Loan features included two years interest only followed by a 30-year amortization for a 10 year, fixed rate, non-recourse loan. Proceeds paid off the construction loan with the project receiving the final certificate of occupancy only 10 days prior to closing and with less than 60 days of stabilized rental income. |
Current Rates (09/03/2010)
- Apartments 4.55%
- Mobile Home Park 4.75%
- Anchored Retail 5.65%
- Non-Anchored Center 5.85%
- Single Tenant Retail 5.80%
- Office 5.85%
- Industrial / Flex 5.92%
- Self-Storage 6.15%
- Medical Office 5.15%
- Hotel 6.65%
- Owner Occupied 4.65%
- Land 8.65%
- Other 6.40%
Rates are based on a $2 million loan, 25 year amortization, 10 year fixed rate term. For apartment complexes, a 30 year amortization is available.