KANSAS CITY—Pillar, a GuggenheimPartners affiliate and provider of affordable andconventional housing solutions, has just originated a $16.25million Fannie Mae DUS loan for the refinancing ofGeorgetown Apartments, a 395-unit multifamily property located inMerriam, KS, a suburb of Kansas City. Tenants occupy more than 95%of the property.

Adam Klingher, managing director, andBrooke Jackson, analyst, both members of Pillar'sChicago team, originated the low, fixed-rate loan. MalkinProperties, an owner and operator of multifamilyproperties across the country, is the sponsor and intends to usethe loan to make capital improvements on the property. Thetransaction closed in August 2014. Pillar officials could not bereached for comment.

“After Pillar issued the loan commitment, a significant casualtyevent occurred before the loan closing,” said VinceSultana, vice president of multifamily operations ofMalkin, in a prepared statement. “Other lenders would havereconsidered the loan, but Adam and the Pillar team worked closelywith Fannie Mae to ensure that we closed in time to meet thematurity of our existing loan.”