Integra Sunrise Parc Apartments
|Deal Type||Fannie Mae|
The transaction includes a $43,800,000 ($146,000/unit) non-recourse, first mortgage loan secured by a 300-unit mid-rise apartment community, known as Integra Sunrise Parc Apartments, located in Kissimmee, FL. Built in 2019, the apartment community is comprised of four, four-story residential buildings and four, two-story carriage houses located over garages, situated on 17.69-acres of land. The proposed loan will be used for the acquisition of the property for a purchase price of $67.00MM ($233,333/unit). The loan is structured with a 10-year term, with an initial 7-year interest only period, followed by a 30-year amortization schedule.