Clairborne Apartments

Location: Olathe, Kansas
Amount: $2,980,000
Property Type: Apartments
Loan Type: Freddie Mac balloon – non-recourse
Loan Term: 10-years with a 20-year amortization

This Freddie Mac loan called for cash out to borrower, the final rate was below 4.20% fixed for ten years.   The featured traditional non-recourse language, no collection for replacement reserves.  The client wants a shorter amortization than 30-years and the lender was able to adjust the amortization to fit the borrowers request.