|Deal Type||Freddie Mac|
The transaction includes a $48,000,000 ($192,000/unit) non-recourse, first mortgage loan secured by a 250-unit, Class A midrise apartment community, known as The Ellison, located in Kennesaw, GA. Built in 2021, the apartment community is comprised of three, four-story apartment buildings, situated on 8.11-acres of land. The proposed loan will be used for the acquisition of the property for a purchase price of $66.00MM ($267,600/unit). The loan is structured with a 6-year term, with an initial 12-year interest only period, followed by a 30-year amortization schedule.