Multifamily Portfolio Receives $56M Financing Deal

HYATTSVILLE, MD-A $55.5-million financing deal for a six-property multifamily portfolio in Prince George’s County has closed, courtesy of GMAC Commercial Mortgage Corp. The fixed-rate interim financing was arranged via GMACCM’s Proprietary Lending Group in Philadelphia for the borrower, College Park-based Sawyer Realty Holdings. All six properties involved–which are spread out among Hyattsville, Brentwood and Landover–sit within 10 miles of Washington, DC.

“We were able to offer a competitive structure on these solid core assets that were built in the 1950s and 1960s, which some builders would have had a difficult time understanding,” GMACCM senior vice president Robert D. Falese explains of the arrangement. “Ultimately, this allowed us to meet the needs of a repeat borrower.”