New NoHo Project Secures $34M in Financing
The developer of a 144-unit multifamily property has secured a loan to refinance an existing construction loan.
The 20-year, fixed-rate loan is priced at a rate of 3.57% has a 30-year amortization and a loan-to-cost of 85%. The loan has a yield maintenance with five years of step down and no lender fee.
Continental Partners arranged the financing.