ALBANY, ORE. — Hunt Real Estate Capital has provided an $11.8 million Fannie Mae DUS conventional multifamily loan to refinance Albany Meadows Apartments in Albany, approximately 70 miles south of Portland. The borrower is KRBO Oregon Properties, backed by Paul A. Kerley as key principal.
The loan features a 12-year term with four years of interest-only payments followed by a 30-year amortization schedule. Additionally, yield maintenance will apply during the first 138 months.
Developed in 1974 on 10.5 acres, the property features 121,352 square feet of rentable space spread across 39 one-story residential buildings offering a total of 127 garden-style apartments. Property amenities include a clubhouse with fitness center and swimming pool, as well as 190 parking spaces.