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NEW YORK, April 21, 2021 /PRNewswire/ Lument recently arranged three agency transactions totaling $18.5 million for multifamily communities in Brooklyn, New York. Working with an experienced sponsor, Lument closed a $3 million Freddie Mac Small Balance Loan for 900 East 18
th Street, a $6 million Fannie Mae conventional loan for 1436-1438 Ocean Avenue, and a $9.5 million Fannie Mae conventional loan for 991-993 President Street. Kristian Molloy, vice president in Lument s New York office, led the transaction. We were able to take advantage of the ample benefits provided by an agency refinance to consolidate the sponsor s existing debt with a permanent debt structure that was substantially more attractive, said Molloy. The new loans feature lower interest rates fixed near historic lows, competitive partial term interest-only periods, and cash-out proceeds for the borrower.
Lument Provides $18 5 Million Agency Portfolio Refinance for Brooklyn Multifamily Communities prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.