Maryland Multifamily Portfolio Trades Hands for $73.5M
The 344-unit portfolio was acquired by Olivetree Management and financed with $57 million in Fannie Mae loans.
Olivetree Management has acquired a two-property, 344-unit multifamily portfolio located in Maryland for $73.5 million. To support the acquisition, Greystone provided Fannie Mae Delegated Underwriting and Servicing (DUS) loans totaling $57 million. The financing was arranged by Greystone’s Dan Sacks and Alex Basile.
The properties are located in the Columbia suburb of Baltimore and are currently 94% occupied.
Cushman & Wakefield’s Jorge Rosa and Anthony Liberto advised Olivetree Management on the sale of the properties.