|Deal Type||Fannie Mae|
The transaction includes a $20,625,000 ($72,368/unit) non-recourse, first mortgage loan secured by a 285-unit, garden-style multifamily apartment community known as Atria Apartments, located in Tulsa, OK. Built in 2015, the Property comprises of 11, three-story apartment buildings, spread on 19.16 acres of land. The proposed loan will be used to facilitate the acquisition of the Property at a purchase price of $37.50MM ($131,579/unit) in December 2018. The loan is structured with a 10-year term, with an initial 60-month interest-only period, followed by a 30-year amortization schedule.