Centerline Capital Group Refinances a Multifamily Property in Broward, Florida

Centerline announced it has provided a Fannie Mae loan totaling $5.2 million to refinance the Oakwood Apartments. Located in Oakland Park (Broward County), Florida, Oakwood Apartments is a garden style multifamily complex with a total of 124 units housed in four two-story buildings.  The loan terms include a 10-year fixed rate, with a 30-year amortization period. The borrower is 61-34 Madison Real Estate LLC, a Delaware limited liability company, who acquired the property in 2004.  The property was built between 1971 and 1974 and is in good overall condition. Oakwood Apartments also enjoys a long track record of high occupancy, averaging 99.87% over the past 24 months. The facility is located in the South Florida metropolitan area, also known as the Miami metropolitan area, which is the most populous metropolis in the Southeastern United States.

Reuters

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