Loan Type : CMBS Loan
Loan : $8,200,000
A $8,200,000 CMBS loan for a 252-unit apartment complex in Tulsa, Oklahoma. The non-recourse loan features a ten-year term with a 24-month interest only period followed by a 30-year amortization at 5.25%. The loan was underwritten at 72.5% of value, which represented 97% of total cost on the acquisition and repositioning of the asset.