Search
 

GlobeSt.com UPDATE: GMAC Arranges $205 Mil Loan for Fresh Meadows

NEW YORK CITY-The recently announced $270-million sale of Queens' largest apartment community set a record when the buyer secured the largest single-asset loan in Freddie Mac history.

By Glen Thompson | Updated on December 05, 2001

NEW YORK CITY-GMAC Commercial Mortgage Corp. today released details on its arrangement of the largest single-asset transaction in Freddie Mac history: a $205-million, fixed-rate loan for the purchase of Fresh Meadows, the largest apartment community in Queens.

The 3,285-unit complex was sold by Fresh Meadows Development LLC, a corporation formed by Insignia Financial Group Inc., the Witkoff Group, Lehman Brothers and Cammeby’s Int., which purchased the property in 1999. The buyer is Queens Fresh Meadows LLC.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.