GREENBELT, MD–Recently KeyBank Real EstateCapital provided a $56.25 million permanent mortgage loanto a joint venture between The Dolben Co. ofWoburn, MA, and Atapco Properties in Baltimore.The 10-year, fixed-rate loan, which was executed through FreddieMac's Lease-Up program, refinanced the construction debt for thedevelopment of Verde at Greenbelt Station here.
Sounds routine right? In many respects it was. But one elementof this execution was unique: it used Freddie Mac's Lease-UpProgram while also taking advantage of Freddie Mac's index lockprogram.
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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.
