The 7.7% Fannie Mae DUS loan has a 10-year term with 30-year amortization. The loan-to-value was 79.8% percent and debt service coverage was 1.27. The Dakotas Apartments consists of four three-story garden-style buildings made of wood frame with brick exterior. The property includes a common area and laundry facility. Unit amenities include private balconies/patios, updated kitchens with new appliances and garbage disposals, updated bathrooms and new carpet.
AMI Capital is a nationwide mortgage lender specializing in Fannie Mae DUS, FHA and commercial programs, with a focus on loans for multifamily housing communities, office buildings, luxury hotels, industrial properties, retail centers and senior housing. AMI Capital's portfolio has grown to more than $1.7 billion since it was started in 1990.
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