Newmark Brokers Secure $59.4M Acquisition Loan For Multifamily Property In Richardson

The multifamily property located at 850 Greenside Drive in Richardson, consisting of 415 units, was involved in a recent transaction. The acquisition loan for this property was secured from Freddie Mac, amounting to $59,400,000. The loan terms include a 10-year fixed rate, full term interest-only payment, and a 5.38% all-in rate. The landlord for this property is RPM, and the deal was brokered by Matthew Mense, William Weber, Henry Stimler, Daniel Sarsfield, and Purvesh Gosalia of Newmark.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $59,400,000
• Lender: Freddie Mac
• Loan Type: Acquisition Loan
• Loan Terms: 10-year Fixed Rate, Full Term IO, 5.38% All-in Rate
• Landlord: RPM
• Brokers: Matthew Mense, William Weber, Henry Stimler, Daniel Sarsfield, Purvesh Gosalia - Newmark

The individuals involved in this transaction include Matthew Mense, William Weber, Henry Stimler, Daniel Sarsfield, and Purvesh Gosalia, who represented the parties as brokers. Their expertise and negotiation skills were instrumental in finalizing the deal, highlighting their importance in facilitating successful real estate transactions.