Watermark Residential Secures $179M in a Freddie Mac Refi

New York-based Greystone’s PJ McDevitt originated the loans and Christopher Hilbert of 3G Capital Advisors served as an advisor to the borrower.

Watermark at Steele Crossing

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INDIANAPOLIS, IN—Locally-based Watermark Residential has secured $179.2 million from Freddie Mac to refinance four multifamily properties totaling 1,188 units.

New York-based Greystone’s PJ McDevitt originated the loans and Christopher Hilbert of 3G Capital Advisors served as an advisor to the borrower.

Located in Arkansas, Colorado, and Texas, the four properties are:

The four separate Freddie Mac Conventional loans all carry 15-year terms with a fixed interest rate and 30-year amortization, as well as 7 years of Interest-only payments. The properties are all newly-constructed and fully stabilized, or nearing stabilization.