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$4,160,000
First Mortgage
Skyline Point
Apartments
Madison, Wisconsin |
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Skyline Point Apartments is an 88-unit garden complex built in 1971
which was renovated in 1999-2000. The property consists of 11 two
story buildings which are situated on 3.88 acres of land. Skyline
Point offers an excellent mix of unit types including; 26 1br/1ba
units, 16 each of 2br/1ba and 2br/1.5ba units, 28 3br/1.5ba units
and two 4br/2ba units. The property is located at 124 Capitol View
Terrace which is a private cul-de-sac surrounded by a mixture of commercial
and residential development. The property is well located with easy
access to the major arteries traversing the area, and is located roughly
two miles from the State of Wisconsin’s Capitol Building and
the central point of the University of Wisconsin’s campus.
Suburban provided a first mortgage loan to the borrower for the refinance
of the property. The loan was a fixed-rate mortgage having a 10-year
maturity with a 30-year amortization, and was priced at a fixed interest
rate spread over the 10-Year U.S. Treasury Bond Index.
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