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Cohen Financial Secures Fannie Loan for KS Workforce Apts.
Cohen Financial’s Cathy Bronkema has secured a $10.4 million Fannie Mae loan with SunTrust to refinance Oak Ridge Park Apartments in Olathe, KS, within the Kansas City metro area. Bronkema secured the fixed-rate, 15-year term loan with a 30-year amortization schedule.
Oak Ridge Park Apartments is a 194-unit workforce housing property. The property is well located in Olathe, and is fully leased.
“Fannie Mae loans continue to be an attractive debt product for long-term, fixed-rate, non-recourse loans, plus these loans offer an interest-only period to allow for stronger cash flow,” said Bronkema.
She advised that on loans closed more than four years ago, “now is the time to revisit the interest rate and term remaining on the loan, rather than wait for maturity in a few years when we will most likely enter into a much higher interest rate environment.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing

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