Gelfund RE Opportunities Secures $44.1M Acquisition Loan From Fannie Mae For Multifamily Asset

The Lofts at 1835 Arch is a 191-unit luxury multifamily building located at 1835 Arch Street in the Center City area of Philadelphia. The property is part of the Philadelphia market and has been financed with a loan amount of $44,105,000, which is aimed at acquisition purposes.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $44,105,000
• Lender: Fannie Mae
• Landlord: Gelfund RE Opportunities
• Broker: Israel Leiner - Walker & Dunlop
• Loan Type: Acquisition

Walker & Dunlop arranged the loan specifically for Gelfund RE Opportunities, which is an investment platform affiliated with the developer GY Properties. The loan features a tight spread and an extended interest-only period as part of the financing structure.