Transactions

The $50 million Freddie Mac loan features an adjustable rate with a 10-year term and 30-year amortization, with the first five years of interest-only payments. Built in 1973, Chalet Gardens is a garden-style complex consisting of one- and two-bedroom units that offer modern finishes and appliances, eat-in kitchens, in-unit washer/dryers and private outdoor living spaces. Residents have access to the community’s fitness center, pool and sundeck, picnic area, playground, and parking. The property is close to the area’s dining, shopping, and recreation options, and is a short drive to Center City Philadelphia and New Jersey beaches.