Edgewater N.J. Complex Scores $85M Refi From Freddie Mac

Source: Commercial Observer

Berkadia Commercial Mortgage arranged an $85 million revolving credit facility through Freddie Mac for an Edgewater, N.J., mixed-use complex, Mortgage Observer has exclusively learned.
The five-year loan has a floating rate based on Libor, currently ticking in at 2.05 percent, and a 75 percent loan-to-value ratio. The proceeds will be used to refinance a bridge loan, also provided by Berkadia, prior to stabilization. The property, called The View at Edgewater Harbor, was built in 2012, according to Zillow.com. Read full story

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