(Read more on the multifamily market and more on the debt and equity markets.)

BETHESDA, MD-Green Park Financial has provided funding for a local senior housing multifamily deal, providing $22 million in financing to the buyer. Ted Patch, SVP and chief production officer, declined to name the buyer or seller other than to say it is a local deal. The pricing, though, was “fairly aggressive given the stability of the project and we were able to make some fairly aggressive underwriting assumptions based on that stability,” he tells GlobeSt.com. Ballpark, he says, pricing was in the low 130s over the 10-year Treasury.

As one of the largest dedicated multifamily lenders, Green Park is as good an indicator as any as to the health of this piece of the commercial real estate industry. “I think that in the beginning part of the year, the market was overheated and obviously the conduits were too aggressive and that resulted in where we are now,” Patch tells GlobeSt.com. Green Park as well as other lenders had to be aggressive in their own underwriting to stay competitive. Now, though, the firm is maintaining its aggressiveness–tempered somewhat in its underwriting–despite the absence of the conduit market. Of course location counts. It is easy to be aggressive in the DC market, Patch says.