MASSACHUSETTS — The Community Preservation Corporation (CPC), a nonprofit affordable housing and community revitalization finance company, closed $25.4 million in conventional Freddie Mac financing for a portfolio of properties located in Western Massachusetts. Three of the properties are located in Hampden County and one is in Worcester County.
The new loans were used to refinance the existing debt on four multifamily buildings, with each carrying a 10-year term with three
PITTSBURGH, PA — The Community Preservation Corporation (CPC), a nonprofit affordable housing and community revitalization finance company, closed $11 million in conventional Freddie Mac financing for the acquisition of a 19-building apartment complex located in the Greentree Borough of Allegheny County, near Pittsburgh.
Built in 1985 and renovated in 2016, Terrain Apartments consists of 19 improved, two-and-a-half story apartment buildings, as well as a community and leas
Brooklyn, NY — Greystone has provided million in Freddie Mac financing on an 8-property portfolio in Brooklyn. The loans were originated by Anthony Cristi of Greystone’s New York office.
The refinanced properties, which all contain between six and 35 units, all received five-year fixed rate Freddie Mac Small Balance Loans which include an additional 15-years floating and 1 year of interest-only at 80% LTV. The property owner, Steve Lubin, received $6.1 million in cash-out pr
PHILADELPHIA, PA — AMA Financial (AMA), a commercial mortgage-brokerage firm, announced a financial arrangement totaling $192.5 million on behalf of Vesper Holdings (Vesper) in its acquisition of a sizable student housing portfolio. Financing was provided by KeyBank Real Estate Capital (KeyBank) and consisted of eight loans, including: six fixed-rate Freddie Mac loans amounting to $168 million; and two bridge loans amounting to $24.5 million.
“As the student housing market
Laurel, MD — M&T Realty Capital Corporation has closed a $25.956 million Freddie Mac loan for the acquisition of Horizon Square Apartments, a 254-unit apartment complex located in Laurel.
Horizon Square consists of 1-, 2- and 3-bedroom apartment homes, with 1-bedroom homes accounting for 53 percent of the total. Community amenities include a fitness room, clubroom, swimming pool and playground. The transaction was led by managing director Tim Weldon of M&T Realty Capital Cor
Hackensack, NJ — Robert Ranieri, senior VP/managing director of NorthMarq Capital’s Greater Westchester NY/CT based regional office and Greg Nalbandian, senior VP/managing director of NorthMarq’s NJ based regional office collaborated to arrange the $51.844 million refinance of Excelsior II, a 267 unit multifamily property with 11 professional spaces located at 170 Prospect Ave. in Hackensack. The transaction was structured with a 10-year term and 30-year amortization schedule
HAMILTON, NJ — Robert Ranieri, senior vice president/managing director of NorthMarq Capital’s Greater Westchester NY/CT based office arranged refinancing totaling a combined $41 million for a portfolio of four multifamily properties located in Hamilton. The properties that received financing included: Winding Brook Apartments (336-units), Zachary Arms Apartments (240-units), Yorkshire Apartments (128-units) and Hamilton Arms Apartments (166-units). The transactions were struc