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Greystone Lines Up Freddie Mac Refi on Newark Apartment Portfolio
Greystone has provided $39,173,000 in Freddie Mac Optigo Small Balance Loans to refinance a portfolio of 10 multifamily properties totaling 287 units located in and around Newark, New Jersey. The loans were originated by Hope Curtis, a director in Greystone’s New York office.
Eight of the refinanced properties received five-year fixed-rate Freddie Mac Small Balance Loans. The other two received 10-year fixed-rate Freddie Mac financing with three years interest-only.
The portfolio consisted of nine properties in Newark and one 19-unit property in Irvington, located at 885 18th Ave. The Newark properties included 408-410 N. 5th St.; 92 Quitman St.; and 624, 729, 737, 747, 773, 777 and 778 Dr. Martin Luther King Jr. Blvd.
“We work hard to ensure that multifamily borrowers secure financing that will meet their portfolio needs, and we are thrilled that Freddie Mac’s Small Balance Loan program was a perfect fit for this client,” said Curtis.
- ◦Financing

