DLF restructures existing loans to lower interest costs, targets to save Rs 300 crore annually
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“In March 2020, most of our loans were at 9% interest rate, by December, we had reduced it to 7.5%,” Ashok Kumar Tyagi, whole-time director at DLF Ltd, told ET. “Our existing lenders are offering aggressive rates. We believe the average interest rate should be around 7.5%.”
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DLF has developed 153 real estate projects with a total area of about 330 million sq ft.
NEW DELHI:
DLF Ltd, the country’s biggest real estate developer, is restructuring existing loans with a target of saving Rs 300 crore annually, taking advantage of the benign interest rate environment, said a senior company executive.
NEW YORK, NY - Greystone, a leading national commercial real estate finance company, has provided $23.8 million in HUD-insured loans to refinance a trio of assisted living facilities in New Hampshire. The Interest Rate Reduction (IRR) transaction was originated by Lisa M. Fischman, vice president in Greystone’s New York office, on behalf of family owned The Courville Company.
The refinanced properties include Courville at Manchester; Courville at Carlyle Place; and Courville Nashua & Aynsley. The IRR reduces the interest rate on an existing HUD-insured loan, maintaining the existing maturity and loan amount.
“An IRR is a good option for mortgagors who have held their asset since before rates dropped earlier this year,” said Ms. Fischman. “At Greystone, we are continually seeking ways to help our clients leverage market dynamics so they can optimize their real estate portfolios, and an IRR is especially valuable in the assisted living and skilled nursing markets, which are u