Ground Up Construction Multifamily

Ground Up Construction

Caffrey & Company LLC placed a $20.83 million construction loan with a regional bank.  This ground up apartment construction will include 194-unit market rate apartments located on the southwest side of the Kansas City Missouri Metro.  The Apartment Complex is in an Opportunity Zone.  Financing for this ground up construction of a multifamily included a 10-year term, floating rate Prime + 0.25%, 3-years Interest Only then converting to 25-year amortization schedule, no prepayment penalties, 80-percent loan to costs.