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Bainbridge Bethesda Apartments. Photo by Bainbridge

BETHESDA, MD–Ever since the Federal Housing Administration changed its mortgage insurance premium thresholds for green and affordable designations last year, JLL has been reaching out to clients to see if they were interested in refinancing. When it contacted Bainbridge, the answer was yes — it wanted to refinance the construction finance loan on Bainbridge Bethesda Apartments, a 200-unit multifamily building, and it wanted the approximate 40 basis point savings meeting the FHA’s green criteria would bring, as well as the lower interest rate from the refinancing. There was a significant prepayment penalty attached to its current loan but the company decided to proceed.

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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