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.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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