The financing was provided through a Fannie Mae lender at an 80% loan-to-value ratio. The interest rate on the loan is 5.765% fixed for 10 years, with a 30-year amortization.
Anthony Swainey, of the local office of Marcus & Millichap Capital Corp. arranged the financing for KPC Properties. The firm is a subsidiary of Marcus & Millichap Real Estate Investment Brokerage Co., based in Encino, CA.
Kimberly Apartments was built 31 years ago on a 5.6-acre tract of land located just south of Coral Springs.
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