Lending - Freddie Mac - $4.5M
Greystone closed a $4,520,000 Freddie Mac Small Balance Loan for the acquisition of Balsam Apartments in Lakewood, CO – a Freddie Mac top market. The loan for the 48-unit garden-style apartment community is a 7-year Hybrid ARM with a 30-year amortization at 80% LTV. The 20-year term includes an initial 7-year fixed period and a 13-year floating period thereafter. The first two years of the loan are interest-only. The loan was originated by Vincent Langan of Greystone’s Birmingham, AL office, and the transaction was sourced by Phillip Gause of Marcus and Millichap Capital Corp.