SAN FRANCISCO—Although details still remain mum, GlobeSt.com haslearned that Centerline CapitalGroup, a provider of real estate mortgage services foraffordable and conventional multifamily housing, has provided $120million in Fannie Mae financing for a portfolio of multifamilyproperties located in Northern California.
The loans have 10-year terms and are interest-only for theduration of the loan. “The Borrower is a financially strong,seasoned multifamily investor with a long term relationship withFannie Mae,” says Adam Leiden, VP atCenterline. “The properties are in good condition and arelocated in the Bay area which is enjoying strong occupancy and rentgrowth.”
The loans were provided in 49 days from application to closing,adds Richard Olrich, managing director atCenterline. The Centerline deal team included: Leiden, Olrich,Blanca Terrazes, Vanessa Howesand Stephanie Kwok.
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