Greystone Secures $41.5 Million Freddie Mac Loan for Housing
Greystone's Significant Financing Achievement
Greystone, a prominent name in commercial real estate finance, has successfully provided a remarkable $41,535,000 Freddie Mac loan aimed at refinancing a multifamily residential property. This considerable deal has been facilitated for a stunning 252-unit community located in a thriving area known for its residential appeal.
Details of the Freddie Mac Loan
The financing, which originated under the capable hands of Haig Kilicyan and Donny Rosenberg, showcases Greystone's robust partnership with White Eagle Group. The Freddie Mac loan represents a seven-year fixed-rate mortgage structure, designed with an initial period of five years where only interest needs to be paid, followed by an amortization schedule spanning 35 years.
Community Enhancements at Crane's Landing
Crane's Landing, the multifamily property in question, stands as a testament to modern living. Owned and managed by White Eagle since 2016, this rental community has established itself with a plethora of amenities including a clubhouse, fitness center, business space, and more recreational facilities such as a swimming pool and tennis courts. These upgrades, complemented by the substantial refinancing, loom large over the community's commitment to high-quality, affordable housing.
Commitment to Affordable Housing
Abe Spitz from White Eagle Property Group commended the financing, noting that ongoing investments in property upgrades are crucial for enhancing living conditions, thus underscoring the firm’s dedication to affordable housing. This financing not only stabilizes the property but also enhances the living experience for its residents.
Efficiency in Financing
One noteworthy aspect of this transaction was Greystone’s efficiency; they succeeded in closing the financing deal in under 45 calendar days, a feat attributed to the close collaboration between Greystone and White Eagle Group, along with their deep understanding of Freddie Mac's requirements. According to Mr. Kilicyan, this rapid execution is a clear reflection of their operational expertise and the strength of their client relationship.
About Greystone
Greystone operates as a national leader in commercial real estate finance, with a particular focus on multifamily and healthcare financing solutions. The company has established an impressive ranking as a top lender in various sectors, including significant funding channels like FHA, Fannie Mae, and Freddie Mac. For those interested in learning more about Greystone’s offerings and expertise, their website provides extensive information.
Contact Greystone for More Info
For more inquiries, the press contact is Karen Marotta, who can be reached at 212-896-9149 or via email.
Frequently Asked Questions
What is the amount financed by Greystone?
Greystone secured a financing amount of $41.5 million through a Freddie Mac loan.
What type of property is involved?
The financing is for a 252-unit multifamily residential property known as Crane's Landing.
Who originated the Freddie Mac loan?
The loan was originated by Greystone's Haig Kilicyan and Donny Rosenberg.
What amenities are offered at Crane's Landing?
Crane's Landing boasts a variety of amenities including a swimming pool, fitness center, and tennis courts.
How quickly was the financing closed?
The financing was successfully closed in under 45 calendar days, showcasing operational efficiency.
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