Centerline Capital Group (“Centerline”), a provider of real estate financial and asset management services for affordable and conventional multifamily housing, and a subsidiary of Centerline Holding Company, announced today it has provided a small balance multi-family loan to complete a rate and term refinance on Chivas West, a multifamily property located in Irving, Texas.
Chivas West is a garden style multifamily facility that comprises 6 two-story buildings with a total of 72 units. The loan facility – a tier 2 Fannie Mae loan – is a 10-year fixed rate facility with a 30-year amortization period. The proceeds of the loan will be used to refinance the existing debt, and lock in low-rate, long-term financing.