"Freddie Mac demonstrated incredible flexibility and strong pricing in structuring a loan that met the borrower's needs," GMACCM vice president and area branch manager Arthur T. Gormley III says. According to city records, the half-century-old property has a current assessed value of just more than $13 million. The property has vacancy rates in the area at about 2.5%, according to Real Data's recent Norfolk-Virginia Beach-Newport News Market Update.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 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.