December 11, 2015
Greystone’s Director Dale Holzer, out of the Newport Beach office, has closed a large Freddie Mac Small Balance Loan for a private Los Angeles-based real estate investment group.
The loans, combined for nearly $5M, will be used for an 11-property multifamily portfolio, located within Baldwin Village in Los Angeles. The borrower will receive cash-out proceeds that will be returned to the investors. This money will fund future work to retrofit the properties to comply with the City of Los Angeles’ seismic ordinance.
Together, these loans represent one of the largest single-borrower portfolios closed using Freddie Mac’s new Small Balance Loan offering.
Tags: Apartments & Multifamily