Centerline Capital Group recently provided three Fannie Mae loans totaling $14.3 million for the acquisition of one property and the refinance of two multi-family in Minnesota, Wisconsin and Illinois.
The three loans are:
- A $4.2 million loan to refinance the initial construction loan for Arcade Estates West, a newly built 84-unit garden-apartment complex in Vadnais Heights, Minn. The property is made up of 14 two-story townhome-style apartment buildings built between 2009 and 2012.
- A $4.9 million loan to facilitate the acquisition of Brighton Square, a 122-unit garden apartment community in Madison, by Ansonia Properties. The complex includes seven two- and three-story apartment buidings that were built in 1972.
- A $5.2 million loan to refinance Oak Knoll, a multi-family property in Cary, Ill. The garden-style apartment is made up of 100 units in four two-story residential buildings. Oak Knoll was built in 1966 and renovated between 2007 and 2012.
Centerline’s team of Adam Klingher and Brooke Jackson played key roles in arranging and closing the transactions.
