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$18M Loan Obtained for Kansas Apartments
An undisclosed owner of the 240-unit Dunes at Saint Andrews in Overland Park, KS, has secured financing to the tune of $17.5 million. Charley Babb and Tiffiany Mullins with Metropolitan Capital Advisors placed the loan with a national Fannie Mae/DUS lender. The 10-year, interest-only loan carries a 4.3% rate.
Dunes at Saint Andrews is situated on 17 acres at 11101 W. 136th St. The 97%-occupied property, which delivered in 2000, has 15 two-level garden-style apartment buildings, which offer a mix of one, two and three-bedroom units. Floor plans range from 655 to 1,236 square feet, while rents are between $776 and $1,607 per month.
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