WELLS FARGO SECURES $7.5 MILLION FREDDIE MAC LOAN

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LISLE, ILL. — Wells Fargo has secured a $7.5 million loan for the refinancing of the 160-unit Country Villas Apartments in Lisle. The loan carries a 10-year term, and is interest-only for the first 5 years. The lender was Freddie Mac, and the loan was taken out under the lender’s Streamlines Refinance Mortgage Purchase Program. The undisclosed borrower used Freddie Mac’s early rate lock 75 days prior to closing. The loan was originated by Brian Manion of Wells Fargo’s multifamily capital office in Northbrook, Ill.

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