Solara Apartment Homes
|Deal Type||Fannie Mae|
The transaction includes a $20,000,000 ($96,491/unit) non-recourse, first mortgage loan secured by a 228-unit Class A garden style apartment complex, Solara Apartment Homes, located in Moses Lake, WA. Built in 2017, the property is comprised of six, two and three-story residential buildings, situated on 16.9 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, followed by a 30-year amortization schedule.