Freddie Mac Provides $25 Million Refinance For 220-Unit Multifamily Property In Lakeland

A cash-out refinance was structured for a 220-unit multifamily property located in Lakeland, Florida. The total loan amount was $25 million, with a five-year term that includes the initial three years interest only, enhancing financial flexibility for the owner.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $25,000,000
• Lender: Freddie Mac
• Loan Type: Refinance
• Loan Terms: 5 years with 3 years interest only
• Brokers: Ralph Wurzburger, Brian Walton & Mark Vinitsky - Lument

The deal was recently closed, facilitated by the brokerage team of Ralph Wurzburger, Brian Walton, and Mark Vinitsky from Lument, who played a crucial role in executing the refinancing strategy for the property.