Green Park Financial is behind the financing package, which came in the form of a 10-year loan--arranged under Fannie Mae's Extended Rate Lock--that permitted the borrower to lock in the interest rate within two days of signing the loan application. According to Green Park Financial, the borrower sought out the financing in order to take advantage of currently low interest rates, and to pay off an existing debt.
Developed in 1967, the Warwick Apartments occupies an 8.7-acre parcel off Rte. 193 and, according to Montgomery County records, has a 2005 assessed value of approximately $23.5 million. At the time of the transaction, which was facilitated by Tyler Blue of Green Park correspondent Walker & Dunlop, the property was 95% occupied.
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