Condor Garden Apartments

Location: Elyra, OH
Type: Multifamily
Price: $ 5,550,000

SMC has provided a $5,550,000 first mortgage loan used to refinance existing debt collateralized by Condor Garden Apartments, an 87% occupied 180 unit Class B garden-style apartment complex in Elyria, OH, 25 miles outside of the Cleveland metro area. The improvements consist of nine two-story apartment buildings originally constructed in 1975 and significantly renovated in 2004. Amenities include high speed internet access, on-site laundry facilities, housekeeping and 24-hour emergency maintenance.