Multifamily P Kansas

CBRE closes $2.5 million loan for apartment property in Topeka

CBRE closes $2.5 million loan for apartment property in Kansas,ph01

CBRE has structured a $2.587 million loan to refinance the Whitehall Apartments at 3930 SW Twilight Drive in Topkea, Kansas.

A Freddie Mac Small Balance Loan was obtained by Jason Brown and Sam Orman of CBRE Capital Markets’ Debt & Structured Finance team on behalf of their repeat client ALK Properties, LLC.

The 10-year loan is interest-only for one year with a 10-year fixed 4.07 percent rate and 30-year amortization. The financing has a 70 percent loan-to-value ratio.

The Whitehall Apartments are a six-building, 74-unit mission-driven multifamily property with access to I-470. The community features a swimming pool and on-site laundry and is pet-friendly.