BERKADIA COMMERCIAL ORIGINATES $3.05 MILLION APT LOAN IN PA.
WILLIAMSPORT, PA. — Berkadia Commercial Mortgage originated $3.05 million in Freddie Mac financing for Woodland Park Apartments, a 100-unit community located in Williamsport. The community was constructed in 1971. It consists of 16 two-story buildings on approximately 11 acres. The loan carries a 10-year term, a 30-year amortization schedule and a fixed interest rate. The proceeds will be used by the borrower, Towncrest Associates LP, the retire existing debt and complete renovations. Warren Higgins of Berkadia's Philadelphia office arranged the loan.