Finance i Ohio

Pillar closes $11 million loan for acquisition of 240-unit apartment community in Columbus

citation-club

Pillar has originated an $11.68 million Fannie Mae DUS loan for the acquisition of Citation Club Apartments, a 240-unit multi-family property at 600 Trinity March in Columbus, Ohio.

Pillar has originated an $11.68 million Fannie Mae DUS loan for the acquisition of Citation Club Apartments, a 240-unit multi-family property at 600 Trinity March in Columbus, Ohio.

The 15-year, fixed rate term loan with a 30-year amortization schedule was originated by the members of Pillar’s Chicago origination team: Adam Klingher, managing director, and Brooke Jackson, associate.

Citation Club Apartments is part of a portfolio of three multi-family properties all located in Columbus, and is the only property in the portfolio that required new financing. The sponsor is Brookview Realty Group, an owner/operator of multi-family properties across the country. The key principals at Brookview responsible for the Citation Club Apartments transaction are Barry Pessin and David Ostreicher.

Citation Club Apartments is a garden apartment complex in a growing area of Columbus.