Virginia Lane Apartments

apartment building loan

Location: Olathe, Kansas
Amount: $1,500,000
Property Type: Apartments
Loan Type: fixed rate with a 30-year amortization
Loan Term: 10 year term

Caffrey & Company placed this loan through a correspondent insurance company. This $1.5 Million loan came to a 69% LTV. The term was for 10-years with a 30-year amortization. The interest rate was fixed at 4.94%. Borrower wanted a less complicated closing and decided not to go with a Fannie Mae Loan or a CMBS (conduit) loan.