Sela Realty Receives $16.5M Freddie Mac Loan for Senior Housing
Greystone has provided the loan for the buyer’s acquisition of the 100-unit Waterside Villas, a senior living community in Monroe Township, NJ.
NEW YORK CITY—Sela Realty has received a $16.5 million Freddie Mac Program Plus loan for the acquisition of a 100-unit senior living community in NJ. Greystone’s John Williams and Ephraim Kantor in the New York office originated the loan for the buyer, Sela Realty. Adam Zweibel of Gebroe-Hammer was the broker.
The $16.5 million Freddie Mac loan carries a 10-year term and 30-year amortization, with a low, fixed-interest rate and interest-only payments for the first five years.
Built in 2009, Waterside Villas is a three-story complex with studio, one- and two-bedroom units with modern amenities for adults 55 and older. It’s located in the Concordia neighborhood of the Monroe Township, NJ.
The property is situated near Princeton and other historic communities and is midway between New York City and Philadelphia. The location provides easy access to the NJ Turnpike and other major highways and roadways.