Timber Creek Apartments

Location: Niles, OH
Type: Multifamily
Price: $ 5,000,000

Timber Creek is collateralized by a 305-unit apartment complex located in Niles, Ohio, which is within the Youngstown-Warren-Boardman, OH-PA MSA. The property consists of 5 garden-style buildings constructed in 1971. Property is 96.4% leased and has shown strong historical occupancy during the past 3 years. AMC’s $5,000,000 first mortgage financed the acquisition of the property, which had a purchase price of $6,650,000 (LTC = 75%).