Colliers has successfully arranged a refinancing deal worth $24.5 million for Milford Station, a multifamily complex located in Pikesville, Maryland. The transaction was facilitated by the Colliers Capital Market debt and equity team, led by Senior Director of Finance Bob Beckman. This deal was made possible on behalf of Gelfund RE Opportunities and GY Properties.
The property at 19 Warren Park Drive is strategically situated in the heart of Pikesville, providing easy access to local amenities as well as major transportation routes such as the Baltimore Beltway and Milford Mill Metro station for convenient commuting into Baltimore city.
Through this transaction, Colliers secured a non-recourse loan with favorable terms including a 30-year term and fixed interest rate set at 5.12%. Yonatan Gelfand, CEO of Gelfund RE Opportunities expressed his satisfaction with this successful refinance stating that they had been patiently waiting for market conditions to be right before executing it. He also credited Bob Beckman and the entire Colliers team for their expertise and commitment which played an essential role in making this deal happen at an opportune time that aligns perfectly with their long-term strategy to increase property value.
This news was originally reported by Connect CRE.
