The Watson Obtains $29.6M Acquisition Loan
A $29.6 million Freddie Mac Optigo acquisition loan was recently provided for a 247-unit multifamily property in Grand Prairie, TX. Built in 2017, The Watson is a luxury apartment community with a range of amenities.
The financing was originated by Dan Gillard, managing director in Greystone’s Philadelphia office, on behalf of 180 Multifamily Properties’ principals John Barker and Lance Woodward. The 70 percent loan-to-value nonrecourse Freddie Mac loan carries a 10-year term, a floating interest rate with the first five years of interest-only payments and a 30-year amortization period.
- ◦Financing