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Greystone Closes Sale and Financing of HUD Multifamily Acquisition in Michigan


Greystone Closes Sale and Financing of HUD Multifamily Acquisition in Michigan
NEW YORK, April 27, 2021 (GLOBE NEWSWIRE) Greystone, a leading national commercial real estate finance company, and Greystone Bel Real Estate Advisors, teamed up to close the sale of, and provide financing for, a multifamily property acquisition in Marquette, Michigan. The sale was closed by Cary Belovicz of Greystone Bel, who represented both the seller and buyer, and the 85% LTV financing was originated by John Marr, Managing Director, and Reuben Dolny, Vice President, of Greystone.
The $7.3 million in HUD-insured acquisition financing for
Woodview Village includes a low, fixed rate and 35-year term that is fully amortizing after 35 years. The 124-unit property, located just over a mile from downtown Marquette, is 100% occupied and comprises primarily one- and two-bedroom units. The property, made up of two non-contiguous parcels, is spread over 8.2 acres and 13 total buildings and has ....

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Affordable Northern Virginia Property Scores $67M Refi


Affordable Northern Virginia Property Scores $67M Refi
The community is 30 miles outside of Washington, D.C., and close to several major employers.
Mar042021
Image courtesy of Dwight Capital
Dwight Capital has secured a $66.8 million HUD refinancing for Ashburn Meadows, a 336-unit fully affordable community in Ashburn, Va., owned by Clark Realty Capital. The Loudoun County property was previously subject to a HUD 223(f) loan originated by the same Dwight Capital in 2017. That loan amounted to $45.4 million, according to Yardi Matrix data. 
The new financing, which closed on Feb. 24, includes a reduced Mortgage Insurance Premium set at 25 basis points. Managing Director Brandon Baksh originated the deal, which marks the fourth refinance that Dwight Capital has closed for this client. The community was 98 percent occupied at closing, a Dwight Capital representative told ....

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Mortgage Rates Hit 16th Record Low of 2020


Mortgage Rates Hit 16th Record Low of 2020
Money.com
12/24/2020
© Money; Getty Images
Mortgage-Rate-Weekly-Down
This week, the average rate for a 30-year fixed-rate mortgage was 2.66% with 0.70 discount points paid. Rates dropped 0.01 percentage points from the week ending December 17 to set the 16th record low of the year. The last record was set on December 17 and held for a single week. One year ago, the average rate was 3.75%.
“The housing market is poised to finish the year strong as low mortgage rates continue to fuel homebuyer demand and refinance activity,” said Sam Khater, chief economist for Freddie Mac.
The average rate for a 15-year fixed-rate mortgage was down by 0.02 percentage points, averaging 2.19% with 0.5 points paid. The 15-year interest rate for the same week last year was 3.19%. The average rate on a 5-year adjustable-rate mortgage remained unchanged at 2.79% with 0.3 discount points paid. ....

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Mortgage Rates Hit 15th Record Low of 2020


Mortgage Rates Hit 15th Record Low of 2020
Money.com
12/17/2020
© Money; Getty Images
Mortgage-Rate-Weekly-Down
This week, the average rate for a 30-year fixed-rate mortgage was 2.67% with 0.70 discount points paid. Rates dropped 0.4 percentage points from the week ending December 10 to set the 15th record low of the year. The last record was set on December 3 and held for two weeks. One year ago, the average rate was 3.73%.
“Mortgage Rates are at record lows and pushing many prospective homebuyers off the sidelines and into the market,” said Sam Khater, chief economist for Freddie Mac. “Homebuyer sentiment is sanguine and purchase demand shows no real sign of waning at all heading into next year.” ....

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