The Embassy Group has secured a $58.6 million floating rate Freddie Mac loan to refinance a 306-unit multifamily property in Naples, FL. The transaction was originated by Dan Sacks, managing director in Greystone' New York office, on behalf of The Embassy Group.
The loan refinances an existing Fannie Mae loan to acquire the property, Amberton Townhomes, in 2017. It carries a 10-year term with a 30-year amortization and five years of interest-only payments.
Originally constructed in 2007, Amberton Townhomes consists of 39 two- and three-story buildings.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
