The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
June 24, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?





MULTIFAMILY NEWS
Printer-friendly Version   Email an Associate
Albuquerque Res Community Lands $45 Mil Freddie Mac Refi

5/19/23

Union 505 Apartments, a 572-unit residential community in Albuquerque, NM, was refinanced with a new loan for $45.5 mil. The property is located at 801 Locust Place NE.

The community offers studio, loft, one- and two-bedroom renovated units in a garden-style format. The complex also features a newly remodeled clubhouse with free Wi-Fi, state of the art fitness facility, outdoor sport court, landscaped open space and resort-style pool area.

Gantry’s Adam Parker and Chad Metzger secured the seven-year, fixed rate loan. It was placed with Freddie Mac and features full-term interest-only payments.

Mr. Parker and Mr. Metzger were able to maximize loan proceeds by underwriting the debt-service-coverage ratio using a 35-year amortization instead of the normal 30-year amortization. The borrower wanted to maximize loan proceeds as they were using the cash-out proceeds to purchase another asset.





Return to the Archive page
 


 
 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media