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Recently Funded: $15.6MM Student Housing Refinance
The Owners of Vantage Point Apartments in Madison, Wisconsin were provided with a 10 year fixed rate permanent loan for the 65-unit, 200-bed Class A student housing property. The luxury campus area high rise is located adjacent to Union South, Camp Randall, and close to campus libraries, restaurants and Regent Street. "We were pleased to provide permanent financing on this quality student housing asset. Investors focused on the solid operating performance of the property and the strength of the UW-Madison housing market, resulting in excellent pricing for the local owner" said Mike Trehey, PLUM EVP Originations Midwest.
PLUM specializes in the capitalization of middle-market commercial real estate properties nationwide. We deliver creative and customized direct lending programs and a full array of loan options for all commercial property types.
Contact: mike.trehey@plumlending.com | (608) 286-3817
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A quick, smooth loan closing begins before you reach out to a lender. It’s made possible by understanding the type of documentation lenders look for, and when, and in which format, they need to receive it. The type of property being financed will influence key documents; however, the following are items that are consistent across…
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CMBS loans have become popular in 2024 as regional and local banks have slowed or halted new loan production. For those that aren’t as familiar with the CMBS product, the loans are heavily structured and largely originated by lenders with little to no customer relationship. The loans are quickly sliced, diced, pooled and converted into…
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While the Fed is an important driver in the economy, it isn’t the only factor that shapes long-term interest rates for commercial real estate. We saw interest rates move independently of the Fed’s actions in the year 2000. At that time, the Fed had abandoned their two year fight against inflation and turned on its…
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Santa came early for some commercial real estate owners who locked a rate in the past week. The 10YR US Treasury yields dipped then rallied last week, declining to 4.11% before bouncing back to current levels near 4.25%. Is this dip and then increase back to the prior week’s levels a sign of a…
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CRE Owners Catch a Break This past week, commercial real estate owners caught a huge break. The 10YR treasury yields fell almost 0.30% throughout the week, and are 0.80% lower than their high of ~5.00% in mid October. Not even Friday’s comments by Fed Chair Powell that “rate cuts are premature” stopped yields from…
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