PWF funded the loan under Fannie Mae's DUS Early Rate Lock program, and in accordance with Fannie Mae's recently introduced Extended Maturity Option. The loan, which was originated by George G. Haase of the firm's New York City office, carries a 4.735% interest rate, a debt service coverage of 1.49x and a loan to value of 80%. The identity of the owner of the property and beneficiary of the loan was not released.
The New York-based PWF originates, underwrites and services mortgage loans for conventional apartment properties, as well as affordable housing senior housing and select commercial and healthcare properties. Its current portfolio totals almost $4 billion in principal.
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