Dealmaker: Greystone Provides $20.2M Freddie Mac Loan for Philadelphia Property

(Image courtesy of Greystone)

Greystone, New York, provided a $20.2 million Freddie Mac Optigo loan to refinance a construction loan for a multifamily property in Philadelphia.

The financing was originated by Steven Vainer, a Managing Director at Greystone.

The Freddie Mac Optigo financing carries a five-year term at a fixed rate, with a 30-year amortization.

The property–the Ray Philly–is a mixed use apartment building in the Olde/South Kensington neighborhood, featuring 110 units.

In addition to studio, one- and two-bedroom units, it has commercial tenants including Linden Ave Studio, Michelle Lopez Studio and South Kensington Community Partners Inc.