Outside the Region: Juniper Capital negotiates $7.5 million Freddie Mac loan for Baltimore apartment complex

May 07, 2019 - Front Section

Baltimore, MD Juniper Capital closed a $7.5 million loan from Arbor Realty Trust for a 98-unit multifamily garden-style apartment complex. Jake Gluck, managing director of Juniper negotiated the deal.

The Freddie Mac loan features a 20-year term at 4.63% with three years IO. The borrower was also able to cash out a portion of their equity due to the value they added since purchasing the property a few years ago.

“The borrower, a local investor, capitalized on the recent drop in the treasury market to get an aggressive loan,” said Gluck. “Juniper’s market knowledge helped us identify the most aggressive lender for this deal.”

The borrowers plan to use the proceeds from this loan to further invest in the robust Maryland rental market that has seen recent growth

Comments

Add Comment


More from the New York Real Estate Journal