WYNNEWOOD, PA., AND WILMINGTON, DEL. — Green Park Financial has provided two multifamily loans totaling $12.1 million. In Wynnewood, the company provided $7.6 million for the refinancing of Brynwood Apartments, a 143-unit, Class B multifamily community. The property comprises eight two-story buildings and was 97 percent occupied at the time of closing. The loan carries a 10-year term and a 30-year amortization schedule. It was originated on behalf of the undisclosed borrower by Don Pettit of Carey, Kramer, Pettit & Panichelli (CKPP). Jay Thomas of Green Park Financial represented his company in the transaction.
In Wilmington, Green Park provided a $4.5 million supplemental loan for Arbor Pointe Apartments, a 264-unit community located within a Wilmington residential subdivision. The property contains 11 three-story buildings and was 94 percent occupied at the time of closing. The loan carries a 5.66 percent fixed interest rate for a plus 1-year term with a 30-year amortization schedule. It has a 71 percent loan-to-value ratio with a 1.25x debt-service coverage ratio and a 6.25 percent capitalization rate. Brad Johnson of CKPP originated the loan on behalf of the borrower, Arbor Pointe Rental Co. Thomas represented Green Park in the transaction.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter

Webinars on Demand

Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties