LONGMONT, COLO. — Grandview Meadows apartment community in Longmont received an $11.78-million refinance loan. The loan will cover Phase I of the four-phased community. Walker & Dunlop partnered with Freddie Mac to underwrite this phase as a stand-alone property for the borrower, M. Timm Development. Phase I was completed in 2000. It includes 144 units situated on more than eight acres. Phase IV of the property is currently under construction. Grandview Meadows boasts a 96 percent occupancy rate. The refinance loan features a 10-year term with three years interest-only and a 30-year amortization schedule under Freddie Mac’s Capital Markets Execution Program (CME). It was underwritten to a 75 percent loan-to-value.Charles Christensen led the Walker & Dunlop team.
GRANDVIEW MEADOWS RECEIVES $11.8M
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