X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

COLORADO SPRINGS, CO-AMI Capital Inc. of Bethesda, MD, has closed a $9-million Fannie Mae DUS refinance loan on the 312-unit Berkshire Apartments in this city about 60 miles south of Denver. The Berkshire is a class-C property at 2055 Mittenwald Dr.

AMI originated the transaction on behalf of their borrower.

The loan has a 10-year term and a 30-year amortization, with a 9.5% annual yield maintenance. The loan carries a rate of 6.9% rate. Loan-to-value is 65.03% and debt service coverage is 1.35.

The property, built in 1972, is 94% occupied.

The community features brick and stucco exteriors with wood frames. Amenities include two pools, two saunas, Jacuzzi and clubhouse. Washer and dryer hookups are available in some of the two- and three-bedroom units.

AMI Capital is a nationwide mortgage lender focusing on loans for multifamily housing communities, office buildings, hotels, industrial properties, retail centers and senior housing. Since its inception in 1990, AMI Capital’s portfolio has grown too more than $2.27 billion.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. Apartments 2020Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.