Greystone announced it has provided a $2,280,000 Freddie Mac Small Balance Loan to finance the acquisition of Abbey Square apartments in Catonsville, MD. The loan was originated by Andrew Ellis of Greystone with Marcus & Millichap acting as correspondent.
The Freddie Mac Small Balance Loan carries a 10-year term with 3 years of interest-only over a 30-year amortization. Abbey Square is a 38-unit apartment complex comprising one- and two-bedroom apartments with amenities including parking, laundry and storage space.
"This is just one success story of the highly competitive and attractive Freddie Mac Small Balance Loan offering, which has seen solid demand across the U.S.," said Rick Wolf, senior managing director and head of Greystone's small loan lending group.
Greystone provides mortgage finance solutions across multiple platforms, including FHA, Fannie Mae, Freddie Mac, USDA, CMBS, bridge, mezzanine and other proprietary loan programs.