$7M Financing Deal Closes for Apartment Complex

WASHINGTON, DC-Lincoln-Westmoreland Phase II LP has refinance Lincoln-Westmoreland II, a 122-unit multifamily community for low- to moderate-income households, gets refinanced now in a $6.8 million deal. GMAC Commercial Mortgage Corp. orchestrated the financing package; Freddie Mac is providing the fixed-rate loan.

“What gave GMACCM the competitive edge in this deal was the speed in which the deal was closed,” says GMACCM’s Kevin Keelty, vice president at the company’s District loan origination office. “In this case, we had a repeat borrower who completed an early rate-lock application, locked the interest rate and closed the deal in exactly one month’s time.”