Crimson Villas

Location: Pittsburg, Kansas
Amount: $11,350,000
Property Type: Apartments
Loan Type: Fixed rate refinance
Loan Term: 7-years

This property is 100% student housing. The loan was amortized over a 30-year schedule, no replacement reserves and $475,000 of the proceeds was on a revolving line of credit. This was a very unique structure.