(Read more on the multifamily market.)
PHILADELPHIA-Locally based GPX Realty Partners has obtainedslightly more than $17.2 million in floating-rate interimrefinancing for the five-property, 309-unit multifamily portfolioit acquired for $20.4 million on June 27 from a company headed byBob Stillwell. Horsham-based Capmark Finance Inc. provided the newfunding.
Warren Higgins, SVP in Capmark's Horsham office, originated thetransaction. It is for a three-year term with interest-onlypayments. Higgins tells GlobeSt.com the rate is between 150 and 200over Libor and that it has two one-year extension options.
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