NASHVILLE, TN—The ownership of multifamily properties in Nashville and Clarksville, TN have secured a total of $23.5 million in Freddie Mac loans for the garden apartment communities.
Houlihan-Parnes Realtors, LLC announced the two financing transactions. Fred Stahl and Sheldon Stahl of the White Plains, NY-based real estate investment firm placed the two loans. The Nashville property totals 312 units and is located at 5242 Edmonson Pike. The multifamily property in Clarksville features 248 units at 2190 Memorial Drive.
The two properties are under long-term ownership and management and have occupancy rates of more than 95%.
Walker & Dunlop of Atlanta was the DIS lender for the loan originations. The interest-only loans were for $14 million and $9.5 million and were negotiated at rates of 3.96% and 4.14%, respectively.
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