Search
 

$9M Mortgage for Berkshire Apartments

COLORADO SPRINGS, CO-The owners of a 312-unit class-C property at 2055 Mittenwald Dr. get a 6.9% interest rate in a deal at 65% loan-to-value and hefty 1.35 debt-coverage ratio.

By John Rebchook | Updated on June 12, 2002

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.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

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 © 2024 ALM Global, LLC. All Rights Reserved.