Freddie Mac Provides $78.7M Acquisition Loan For Multifamily Property In Coral Springs With Brokers Newmark's Matt Mense, Bill Weber, Henry Stimler, Ari Schwartzbard, Ricky Warner & Dan Sarsfield

The multifamily property located in Coral Springs was recently involved in a closed transaction. The property consists of 332 units and spans approximately 260,000 square feet. The deal took place on June 20, 2023.

Summary of transaction details

• Property Type: Multifamily
• Number of Units: 332
• Total Square Footage: 260,000
• Market: Coral Springs

The loan for this transaction was provided by Freddie Mac. The loan amount was $78,650,000, and it was an acquisition loan. The loan terms included a 10-year floating rate, 65% loan-to-value ratio, and 5 years of interest-only payments. It is worth noting that the proceeds from the loan increased by over $1.2 million between the application and the closing.

The brokers involved in this transaction were Matthew "Matt" Mense, William (Bill) Weber, Henry Stimler, Ari Schwartzbard, Ricky Warner, and Dan Sarsfield from Newmark. These brokers represented the buyer and seller parties throughout the deal, ensuring a successful transaction.