Greystone Secures $24.5 Million Loan for Multifamily Development

Author: Owen Jenkins Updated: 12-02-2025 11:48 AM

Greystone Refinances Major Multifamily Property

Greystone, a prominent national commercial real estate finance company, has made headlines by providing a substantial $24,477,000 loan as part of the Fannie Mae DUS program. This financing is dedicated to refinancing the Manchester at Wesleyan, a sprawling 328-unit garden-style apartment complex situated in Macon.

Amenities and Upgrades at Manchester at Wesleyan

The Manchester at Wesleyan boasts an impressive array of amenities conducive to a fulfilling community lifestyle. These include two refreshing pools, a fully equipped fitness center, a gated dog park, and a welcoming clubhouse. The recent renovations to the apartment interiors have also significantly enhanced the overall living experience for residents.

Strategic Value-Add Investments

Since the acquisition of the property, the sponsor has committed over $1 million towards upgrades to the building's amenities and units. As a result, the physical occupancy rate has surged to an impressive 94.2%, demonstrating the success of these initiatives. Notably, a majority of the units cater to residents whose income levels align with or fall below 80% of the area median, making the property a key player in affordable housing under Fannie Mae's guidelines.

Prospects for Continued Growth

Charlie Mentzer, a representative from Greystone, commended Arcan Capital for their successful management of Manchester at Wesleyan. He highlighted that Arcan's proven track record in handling multifamily assets within the Southeast adds immense credibility to their execution of the business plan for this property. The refinance will empower the sponsor to return capital to their investors while simultaneously paving the way for further investments in property enhancements.

About Greystone's Commitment

Greystone has solidified its reputation as a leader in the commercial real estate finance sector, focusing on multifamily and healthcare markets. Their commitment to providing financing through various subsidiaries, including Greystone Servicing Company LLC and Greystone Funding Company LLC, underscores their robust presence in the industry.

Media Contact Information

Those interested in learning more about Greystone or their services can contact Fran Del Valle at fran@influencecentral.com.

Frequently Asked Questions

What led Greystone to refinance the Manchester at Wesleyan?

The refinance was initiated to support ongoing enhancements and maintain high occupancy rates at the property.

What amenities does the Manchester at Wesleyan offer?

The community includes amenities such as fitness facilities, pools, a dog park, and improved apartment interiors.

Why is the property considered mission-driven?

The apartments are primarily occupied by residents earning at or below 80% of the area median income, qualifying it under Fannie Mae's affordability standards.

Who is managing the Manchester at Wesleyan?

Arcan Capital is managing the property and has a positive track record in maintaining multifamily assets.

How does Greystone stand out in the commercial real estate finance market?

Greystone is recognized for its extensive expertise in multifamily and healthcare finance, ranking highly among FHA, Fannie Mae, and Freddie Mac lenders.

About The Author

Hi there I'm 38-year-old author and financial consultant Owen Jenkins. Having worked in the financial sector for more than ten years, I am well-versed in the subtleties and complexity that mold our financial environment. Following a degree in finance, I worked in a number of financial institutions honing my abilities in market analysis, financial planning, and investment strategies.

My love is teaching others about investing and personal finance. My goal in writing many books and articles has been to demystify financial ideas and give readers the information they need to make wise financial decisions. I write with a direct, useful style that emphasizes doable suggestions for daily living.

Along with writing, I lead webinars and seminars where I impart knowledge on how to successfully negotiate the financial world. I also write for financial journals and show up as a guest expert on financial news programs a lot. Whether they are new to investing or want to improve their approach, my mission is to enable people to take charge of their financial futures.

Beyond work, I like to hike, play the guitar, and spend time with my family. I think that balance is crucial and want to encourage people to strike a balance between their financial aspirations and their hobbies. I want to help people succeed and achieve financial security through my work, so having a good influence.

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