Kevin Kovachevich of District Capital arranged a $153.2 million acquisition loan for a Michigan borrower as part of a Fannie Mae credit facility.
The senior loan of $97.2 million was used to finance the acquisition of four apartment complexes. An additional $56.1 million was borrowed against equity in properties already within the credit facility.
In total, the collateral consisted of 1,380 units of value add, Class-B apartment complexes located in the Louisville MSA.
