The deal with borrower Page Development was arranged throughGreystone, a Fannie Mae program lender and was based on a 10-yearterm with a 30-year amortization schedule. The loan involves allthree multifamily properties that total 250 units, according to N.Edward Tamer, vice president of Legg Mason's Albany regionaloffice.
Legg Mason also reports that it arranged a $2.8 million firstmortgage loan for the Freedom Executive Park and Burnham Buildingin Poughkeepsie.
The Freedom Executive Park is a 36,018 sf office building, whilethe Burnham Building is an industrial property that contains 31,920sf of space. Legg Mason arranged financing for the borrower, PageEight LLC through its relationship with UBS Warburg.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
