|Deal Type||Freddie Mac|
The transaction includes a $39,990,000 ($199,950/unit) non-recourse, first mortgage loan secured by a 200-unit, garden-style apartment community, known as Enchanted Springs, located in Colorado Springs, CO. Built in 2020, the apartment community is comprised of 10, three-story apartment buildings, situated on 9.40-acres of land. The proposed loan will be used for the acquisition of the property. The loan is structured with a 10-year term, with an initial 5-year interest only period, followed by a 30-year amortization schedule.