|Deal Type||Fannie Mae|
The transaction includes a $24,000,000 ($79,734/unit) non-recourse, first mortgage loan secured by a 301-unit apartment community known as The Brambles, located in Mechanicsburg, PA. Built in 1999, the apartment community is comprised of 31, two-story residential buildings, situated on 30.47-acres of land. The proposed loan will be used to refinance existing debt at the property. The loan is structured with a 10-year term, with 36-month interest-only period followed by a 30-year amortization schedule.