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SIOUX FALLS, SD-AMI Capital, Inc. has closed a $4.1-million refinance loan on an 80-unit apartment community. Oakmont Estates Apartments, located at 1301 E. Northstar Lane, is a class A property built in 1999 and was fully occupied at the time the loan was closed.

The property offers 80 one- and two-bedroom apartment units in four garden-stylebuildings. The Fannie Mae loan carries an interest rate of 7%, has a 10-year term and a 30-year amortization with 9.5-year yield maintenance. The loan-to-value was 80%.

Managing director of the AMI’s Kansas City office, Mark Levin, handled thedeal. Bethesda, MD-based AMI Capital is a nationwide mortgage lender focusing on loans for multifamily housing communities, office buildings, hotels, industrial properties, retail centers and senior housing with a portfolio has grown of more than $2.2 billion. AMI Capital’s regional offices are located in Alexandria, VA, Atlanta, Denver, Kansas City, Los Angeles and Phoenix.

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