Real Estate Journal — April 26 - May 9, 2019 — 3A
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M id A tlantic R eal E state J ournal
HILADELPHIA, PA — CPC Mortgage Com- pany LLC , a subsid- Freddie Mac Optigo Small Balance Loan Product fills unique financing needs of 85-unit property CPC Mortgage Company delivers $5 million to refinance multifamily building in Philadelphia P
of small buildings are a signifi- cant part of our customer base, and they have unique capital needs that aren’t readily met by the market. The Small Bal- ance Loan product gives us a tool that makes sense for our borrowers and gives them the flexibility and terms they’re looking for.” “More than 90% of the 85 units financed at Lawndale Court are affordable to very low-income Philadelphians earning 50% of Area Median Income or less,” said Lamar Myer s, North- east production manager for Freddie Mac’s Small Balance Loan business. “This execution
assistance and deal execution. While offering products for a broad range of capital needs including flexible bridge loans, with strong ties to the parent company and its mission, CPC Mortgage Co. has unique insti- tutional expertise in affordable, stabilized housing and small buildings/small balance loans. In Fiscal Year 2018, the Agency team operated under the CPC umbrella, originating nearly $500 million over a portfolio of 154 loans in New York, New Jersey, Pennsylvania, and Massachusetts. As a Freddie Mac Optigo lend- er, CPC Mortgage Co. offers a
range of competitively priced, reliable mortgage products for the acquisition and refinance of multifamily properties. This includes Freddie Mac’s con- ventional financing with loans ranging from $5 million to $100 million with 5- to 10-year terms, and the SBL product which helps to close the gap in the market for flexible fi- nancing for small buildings by offering loans from $1 million to $7.5 million with flexible terms, prepayment options, competitive low rates, and a streamlined pricing, under- writing, closing, and funding process.
is a great example of how our Optigo Small Balance Loans can support workforce and af- fordable housing. We’re proud to continue working with CPC Mortgage Company to revital- ize communities.” CPC Mortgage Company LLC offers a suite of Freddie Mac, Fannie Mae, and Federal Housing Administration (FHA) products for acquisition, refi- nance, rehabilitation and con- struction of multifamily prop- erties. The company’s team of experts have deep experience in all aspects of the Agency busi- ness to ensure that borrowers receive unmatched technical
iary of The Community Pr e s e r va - t i on Co r - p o r a t i o n (CPC) , an- nounced the closing of a $4.9 million Freddie Mac
Louis Tiberio
Optigo Small Balance Loan (SBL) to refinance the Lawn- dale Court Apartments, an 85-unit multifamily property at 6000 Tabor Ave. in Phila- delphia. “Smaller multifamily buildings are a crucial component of the housing stock in Philadelphia and communities throughout PA,” said Louis Tiberio , VP and mortgage officer at CPC Mortgage Company. “Owners Planned Cos. offers active shooter preparedness . . . that plan and make sure ev- eryone in your building knows his or her role. This includes having drills as well as train- ing sessions for how to handle various worst-case scenarios. 3. Establish a relationship with law enforcement. When dangerous situations happen, they happen fast which is why it is important to work with police ahead of time as you develop your plan for emergency preparedness. Reach out to local law enforce- ment and discuss how you can work together to improve the security of your property. 4. Consult with a security provider. At the end of the day, the lives of those that live, work or visit your building are your number one priority. Rely on the experts. Seek out security expert professionals to help you understand how you can best mitigate risks and ampli- fy the safety of your property. The right provider will assess the security of your building, identify steps you can take to make your property and its occupants safer, and plan for different circumstances. If you are interested in learning more about hosting an active shooter prepared- ness program, please reach out to Planned Companies. Dino Iuliano is CRO of Planned Companies. continued from page 2A
UNMATCHED SERVICE AND EXECUTION Fannie Mae • FHA • Freddie Mac Multifamily Capital Solutions
Construction Refinance Acquisition Conventional Financing
Affordable Housing Small Balance Loans Flexible Bridge Financing
CUSTOMIZE YOUR CAPITAL SOLUTION TODAY Mortgagecompany@communityp.com 855.363.4646
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