Love Funding Secures $12.6 Million Refinancing for Cincinnati Apartment Complex

Love Funding, one of the nation’s leading providers of FHA multifamily and healthcare financing, announced the closing of a $12.6 million loan refinancing for Kensington Park Apartments, a 316-unit market-rate apartment community in Cincinnati, Ohio.
 
Love Funding Senior Director James Vanar of the Los Angeles office secured the financing through the U.S. Department of Housing and Urban Development’s 223(f) loan insurance program. Using the program enabled the property’s owner to lock in a low, fixed interest rate over a 35-year term.

Kensington Park Apartments, which was built in 1989, consists of 20 two- and three-story buildings, a two-story clubhouse, a pool house, and five one-story garage buildings. The subject is owned by CORE Kensington Park Apartments T LLC and managed by CORE Realty Holdings Management Inc., which currently manages more than 5,400 rental units throughout the country.
 
For more information, contact James Vanar.

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