Greystone's Major Financing Milestone
Greystone, a well-known player in commercial real estate finance, has successfully secured an impressive $41,535,000 Freddie Mac loan to refinance a multifamily residential property. This significant deal supports a beautiful 252-unit community nestled in a vibrant area recognized for its residential appeal.
Insights into the Freddie Mac Loan
This financing came to fruition through the skilled efforts of Haig Kilicyan and Donny Rosenberg, highlighting Greystone's strong partnership with White Eagle Group. The Freddie Mac loan features a seven-year fixed-rate mortgage, starting with the first five years requiring only interest payments, and then transitioning to an amortization period lasting 35 years.
Improvements at Crane's Landing
The property in question, Crane's Landing, exemplifies contemporary living. Under the ownership and management of White Eagle since 2016, this rental community offers a diverse range of amenities such as a clubhouse, fitness center, business center, and recreational options including a swimming pool and tennis courts. These enhancements, coupled with the substantial refinancing, highlight the community's commitment to providing high-quality, affordable housing.
Dedication to Affordable Housing
Abe Spitz from White Eagle Property Group praised the financing, emphasizing that continued investments in property improvements are vital for bettering living conditions, thus reiterating the firm's commitment to affordable housing. This financing not only stabilizes the property but also enhances the overall experience for its residents.
Financing Efficiency
An impressive aspect of this transaction was Greystone's efficiency; they managed to close the financing deal in under 45 calendar days. This achievement stems from the strong collaboration between Greystone and White Eagle Group, along with their thorough understanding of Freddie Mac's criteria. Mr. Kilicyan noted that the swift execution is a testament to their operational expertise and the strength of their client relationships.
About Greystone
Greystone stands out as a national leader in commercial real estate finance, particularly in multifamily and healthcare financing. The company has gained recognition as a top lender across various sectors, including major funding sources like FHA, Fannie Mae, and Freddie Mac. For anyone looking to explore Greystone’s services and expertise further, their website offers comprehensive insights.
Contact Greystone for More Information
If you have any questions, feel free to reach out to press contact Karen Marotta 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.
