Greystone Secures $35.2 Million Loan for Texas Property Acquisition
Greystone's Recent Financing Success in Multifamily Sector
Greystone, a prominent name in the commercial real estate finance industry, has recently made headlines with its successful arrangement of $35.2 million in financing for a multifamily community acquisition. This notable achievement reflects the company's commitment to supporting real estate ventures with tailored financial solutions.
Overview of the Multifamily Community
The multifamily property in focus is known as 1720 at Harvey, which features a stunning 288 units, including various options of 1-, 2-, and 3-bedroom units. Residents are treated to a wide range of luxurious amenities designed for comfort and enjoyment. This includes a state-of-the-art fitness center that boasts a yoga and spin studio, a lavish resort-style pool, inviting BBQ grilling areas, and a dedicated pet spa, along with a game room for social activities. Such features make this community an attractive living option.
Loan Details and Terms
This financing deal consists of a non-recourse bridge loan provided by a private debt fund. It offers a 2-year term with a potential 12-month extension, enabling the community to benefit from full-term interest-only payments during its initial phases. The structure of this loan is crafted to provide flexibility and support for the acquisition strategy.
Greystone's Commitment to Clients
Eric Rosenstock, Senior Managing Director at Greystone, underscored the company’s dedication to finding optimal financing solutions that cater to the needs of their clients. He explained that whether clients require long-term funding from agencies or short-term bridge loans, Greystone always strives to exceed expectations regardless of market conditions. This philosophy is at the heart of Greystone’s approach to financing real estate projects.
Expertise in Financing Solutions
Thomas Wayda, another Managing Director at Greystone, reiterated the importance of identifying the best financing options tailored for each asset in the market. By leveraging established lending relationships, Greystone aims to fulfill its clients' specific goals effectively, ensuring that each financing arrangement is strategically beneficial.
A Glance at Greystone's Reputation
With a robust standing in the commercial real estate finance realm, Greystone is recognized for its proficiency in multifamily and healthcare financing. The organization has achieved notable rankings as a top lender in the FHA, Fannie Mae, and Freddie Mac categories. This level of recognition emphasizes the firm’s capability and expertise in navigating the complexities of real estate financing.
Contact Information for Inquiries
For those interested in learning more about Greystone and its financing solutions, the company encourages inquiries from potential clients and industry partners. Karen Marotta from Greystone is available for press contact at 212-896-9149 for further information on their range of services.
Frequently Asked Questions
What is the amount of financing arranged by Greystone?
Greystone has arranged a financing deal worth $35.2 million for a multifamily community acquisition.
What are some key features of the community acquired?
The community features 288 units with amenities like a fitness center, resort-style pool, BBQ areas, and a pet spa.
Who were the key players in the financing arrangement?
The financing was overseen by Eric Rosenstock, Thomas Wayda, and Dante DiStefano at Greystone.
What type of loan did Greystone arrange?
The financing consists of a non-recourse bridge loan with a 2-year term and a 12-month extension option.
How can someone contact Greystone for more information?
Inquiries can be made through Karen Marotta at Greystone, reachable at 212-896-9149.
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