Pennrose, Acacia land $117M Freddie Mac loan in Bushwick – Robert Khodadadian

A joint venture including Pennrose Holdings and Acacia Real Estate Development has landed a nine-figure loan for an affordable housing portfolio in Bushwick. Freddie Mac provided the $117.4 million unfunded forward loan for the Hope Gardens portfolio, the Commercial Observer reported. The Brooklyn portfolio is owned by Pennrose, Acacia and a NYCHA affiliate. The loan is serving as construction take-out financing and has a three-year rate lock, according to the publication. The loan has a

Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Commercial Real Estate, Home Page, Affordable Housing, bushwick, freddie mac, NYCHA, Real Estate Finance The Real Deal New York Read More