Metropolis Capital Advisors announced today that it has successfully arranged a $1.9 million loan on 2487 Gainesville Street SE, Washington, DC. The loan closed under Freddie Mac’s Small Balance Loan Program (SBL). The property is a fully occupied, 12-unit, multi-family building which was renovated in 2016. The property is conveniently located in the Buena Vista neighborhood of Washington, DC along the Maryland border and the Metro’s green line, just blocks from Suitland Parkway which provides access to some of the area’s major roadways such as I-295 (Anacostia Freeway/B-W Parkway) and I-495 (Capital Beltway).

The 10-year fixed rate loan, provided for cash out proceeds with 3 years of Interest Only and a 30-year amortization thereafter. The SBL program streamlines the entire loan process and reduces costs for multifamily acquisition and refinancing loans ranging from $1 million to $7.5 million across the nation. Although the property just recently achieved Certificate of Occupancy, the lender felt comfortable issuing maximum proceeds given the current state of the market

Metropolis Capital Advisors Managing Director Eric Hynek arranged the financing.

ABOUT METROPOLIS CAPITAL ADVISORS

Metropolis Capital Advisors LLC is a real estate advisory firm whose leadership team has successfully financed and/or sold over $8 Billion of commercial real estate. The Structured Finance team specializes in the funding of capital for owners of commercial real estate. Experts at structured finance, actively pursuing all portions of the capital stack including senior loans, equity participations, mezzanine financing and joint ventures. It is their mission to provide unique capital solutions for complex real estate finance transactions. Please visit metcapadvisors.com for a complete description of commercial real estate services.