(Read more on the multifamily market and moreon the debt and equitymarkets.)

BETHESDA, MD-Green Park Financial has provided funding for alocal senior housing multifamily deal, providing $22 million infinancing to the buyer. Ted Patch, SVP and chief productionofficer, declined to name the buyer or seller other than to say itis a local deal. The pricing, though, was “fairly aggressive giventhe stability of the project and we were able to make some fairlyaggressive underwriting assumptions based on that stability,” hetells GlobeSt.com. Ballpark, he says, pricing was in the low 130sover the 10-year Treasury.

As one of the largest dedicated multifamily lenders, Green Parkis as good an indicator as any as to the health of this piece ofthe commercial real estate industry. “I think that in the beginningpart of the year, the market was overheated and obviously theconduits were too aggressive and that resulted in where we arenow,” Patch tells GlobeSt.com. Green Park as well as other lendershad to be aggressive in their own underwriting to stay competitive.Now, though, the firm is maintaining its aggressiveness–temperedsomewhat in its underwriting–despite the absence of the conduitmarket. Of course location counts. It is easy to be aggressive inthe DC market, Patch says.