Overlook Apartments

Overview

Deal Type Agency Lending
Size $10.8 Million
Fannie Mae Fixed Rate Loan

Summary

The transaction includes a $10.8 million ($139,408/unit) non-recourse, first mortgage loan secured by a 100-unit, partially age-restricted, garden-style apartment complex known as Overlook Apartments, located in Middletown, New York. Built in 1983 and renovated in 2007, the property consists of six, two-story residential buildings and one community/office building. The improvements are situated on a seven-acre site. The proposed loan will be used to refinance the property's existing debt. The loan is structured with a seven-year term, and subsequent to a three-year interest only period, amortizes on a 35-year schedule.

KBREC page disclosure

Banking products and services are offered by KeyBank National Association. All credit products are subject to collateral and/or credit approval, terms, conditions, and availability and subject to change.

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