MILL CREEK VILLAGE APARTMENTS

Details

Loan type: Permanent Refinance
Loan: $8,500,000

This loan was underwritten at 75% loan-to-value and featured a 4.75% fixed rate with a seven-year term and a 30-year amortization. Although the property had only recently reached stabilization and did not have a strong operating history, RPC was able to identify a lender that could execute and close the transaction in 30 days. Around 30% of the tenants were Section 8 or similar in nature.

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