Fannie Mae provided a $6.1 million acquisition loan through its Delegated Underwriting and Servicing program. The loan carries a fixed interest rate of 5.43% on a 10-year term with a 30-year amortization schedule. Collateral Mortgage Capital LLC of Birmingham, AL underwrote the loan with a loan-to-value factor of 78.2%.
The property, at 6755 U.S. 301 in North Ellenton, was developed in 1988 and is 89% occupied. The seniors-only community has a gated entrance, two clubhouses, two pools with Jacuzzis, a full range of recreational amenities and two-car off-site parking at each home site.
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