Centerline Capital Group Refinances a Multifamily Property in Omaha, Nebraska

Centerline, a provider of real estate financial and asset management services for affordable and conventional multifamily housing, announced Wednesday it has provided a $4.65 million Fannie Mae DUS loan for the refinance of Cambridge Villas, a multifamily facility located in Omaha, Nebraska.  The borrower is a well-known, local family-owned developer, owner and operator.  The Fannie Mae loan, a 20-year fully amortizing facility, will be used to refinance existing debt and provide capital for building improvements. The loans terms are 75% loan-to-value, 1.27 debt service coverage on refinance, with a 20-year term. Built in 1997, Cambridge Villas is a 72 -unit, garden-style Class B apartment complex situated on 6.85 acres of land.

Reuters

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