Centerline Capital Group Refinances a Multifamily Property in Louisville, Kentucky

Centerline has announced it has provided a $6.15 million Fannie Mae DUS loan to refinance Eastridge Apartments, a multifamily facility located in Louisville, Kentucky.  The proceeds of the facility will be used to repay an existing CMBS loan and cover all costs associated with the transaction, including a prepayment penalty.  The loan also enabled the borrower to significantly reduce the loan interest rate. The borrower is a local commercial real estate owner operator.  Eastridge Apartments is in Jefferson County in north central Kentucky, located approximately 15 miles northeast of the Louisville central business district and 17 miles northeast of the Louisville International Airport.  The property’s location is within 1.5 miles of Interstate 265 (Gene Snyder Freeway) which provides direct access to downtown Louisville. Constructed in 1972 and renovated in 2008, Eastridge Apartments complex includes eighteen two-story brick apartment buildings containing 188 units, a clubhouse and a maintenance/pool house building.  The property includes a small rear parking lot with approximately 40 usable spaces.

Reuters

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s