Cohen Financial’s Cathy Bronkema has secured a $10.4 million Fannie Mae loan with SunTrust to refinance Oak Ridge Park Apartments in Olathe, KS, within the Kansas City metro area. Bronkema secured the fixed-rate, 15-year term loan with a 30-year amortization schedule.
Oak Ridge Park Apartments is a 194-unit workforce housing property. The property is well located in Olathe, and is fully leased.
“Fannie Mae loans continue to be an attractive debt product for long-term, fixed-rate, non-recourse loans, plus these loans offer an interest-only period to allow for stronger cash flow,” said Bronkema.
Source: Connect Chicago