Two Multifamily Properties in Philadelphia
For the refinancing of Holme Circle in Philadelphia, Greystone provided a fixed rate, $10,500,000 Fannie Mae DUS loan with a 10-year term and 30-year amortization, and four years of interest-only payments. The 102-unit multifamily garden apartment community was constructed in 1964, and Greystone had provided the existing Freddie Mac loan on the property in 2018.
Greystone also provided a fixed rate, $9,600,000 Fannie Mae DUS green loan with a 10-year term, 30-year amortization and four years of interest-only payments for Laverock Place Apartments, a 66-unit mid-rise apartment community built in 1968 in Philadelphia. The loan proceeds refinance the existing Freddie Mac loan on the property, which Greystone also provided in 2018.