|Deal Type||Fannie Mae|
Morehead City, NC
The transaction includes a $14,250,000 ($219,231/unit) non-recourse, first mortgage loan secured by a 65-unit (AL:48- unit and MC:17-unit) senior housing apartment complex known as Carteret Landing, located in Morehead City, NC. Built in 2016, the Property comprises of a one-story apartment building, spread on 8.69 acres of land. The proposed loan will be used to refinance the existing debt of the Property. The loan is structured with a 10-year term, with an initial 3-year interest-only period, followed by a 30-year amortization schedule.