Location: Kansas City, Missouri
Property Type: Apartments
Loan Type: 5-year adjustable
Loan Term: 10
Caffrey & Company placed 10-year term loan with a 20-year amortization on this apartment complex. The loan initial rate was at 5.50% for the first 5-years then adjusts to a slightly higher rate with prepayment penalties burned off at year 3. The $995,000 loan represented a 63% loan to value.