GERSON LAW FIRM CLOSES $100 MILLION REVOLVING CREDIT FACILITY

February 22, 2016
Posted in: News
By: Gerson

GERSON LAW FIRM APC  has closed a Freddie Mac revolving credit facility for up to $100 million.

Theresa Loftsfgard and Shereen Rossini led the closing effort for GERSON LAW FIRM for the Freddie Mac secured line-of-credit facility. Under the terms of the facility, continuous funding is provided as multifamily assets, which are each a separate secured loan, are moved in and out of the facility, provided that each asset is a conventional multifamily, senior housing, or student housing.

Among features of the structured finance transaction, were the following:

  • 10 multifamily properties were pledged as collateral.
  • Multifamily properties located in Florida, Georgia, Michigan, and Mississippi.
  • 8 separate loans.
  • Each loan cross-collaterized and cross-defaulted.
  • Floating interest rate with ability to fix.
  • Initial funding of approximately $31,000,000, with ability to utilize up to the full $100 million
  • Ability to move properties in and out of the credit facility.