Greystone provided a $27,503,000 Freddie Mac Optigo® loan to refinance a 109-unit multifamily / mixed use property in Philadelphia, Penn. The transaction was originated by Ryan Harkins and Dan Gillard of Greystone on behalf of Gotham Tower LP.
The non-recourse, fixed-rate, 12-year loan for The Gotham replaces construction financing as the building became stabilized after completion. Acquired in 2018, the property has seen extensive capital improvements as it was transformed from its original use as a silk factory to a mixed-use property with studio, one-, two-, three-, and four-bedroom units along with an attractive amenity package.