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Greystone Closes $16.5 Million Multifamily CMBS in Jacksonville, Florida

NEW YORK, Sept. 22, 2014 (GLOBE NEWSWIRE) -- Greystone, a leading national provider of multifamily and healthcare mortgage loans, today announced it provided a $16,500,000 CMBS loan to refinance a multifamily property in Jacksonville, FL. The transaction was originated by Brian Fintz, an originator in the firm's New York office.

The low-rate 5-year CMBS loan enables the borrower, Real Capital Solutions, to continue strategic investment in their target markets. The gated community, Eden's Edge, includes 244 units and amenities such as a swimming pool, resident lounge with free wi-fi, business / fitness centers, and playground.

"Greystone's ability to provide an otherwise unavailable level of proceeds and work through the challenges of underwriting a property in the evolving, dynamic investment market in Jacksonville enabled us to carry out our business plan and realize the substantial value added to the property since acquisition, providing investors with returns that are unparalleled in the industry," said Ken Cope of Real Capital Solutions.

"The incredible appetite for CMBS lending is a result of the inherent flexibility this platform provides, and backed by our multifamily expertise, Greystone is able to exceed borrowers' expectations regardless of the market challenges," said Robert Russell, head of production for Greystone's CMBS lending group.

Greystone provides mortgage finance solutions across multiple platforms, including FHA, Fannie Mae, Freddie Mac, USDA, CMBS, bridge, mezzanine and other proprietary loan programs. In 2013, Greystone ranked #1 in combined multifamily and healthcare FHA lending, #3 in Affordable Housing volume as a Fannie Mae DUS lender, and as a top-5 Freddie Mac lender for seniors housing.

About Greystone

Greystone is a financial services and private investment group whose original core business is multifamily real estate lending. Over the years, Greystone has added business lines that are related to, and natural extensions of, its core business. Headquartered in New York with offices across the U.S., Greystone is active in three major business segments: Mortgage Finance, Healthcare and Real Estate. Greystone's mission is to apply unparalleled creativity while modeling corporate compassion. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information about Greystone's multifamily and healthcare financing solutions please visit http://www.greyco.com.

About Real Capital Solutions

Headquartered in Louisville, CO, Real Capital Solutions is a nationally-focused value-add investor and developer. The company offers active capital with an emphasis on street level solutions. They focus on providing capital and financial support, business planning, macro research, financial credibility, deal structure expertise, team building and back office operations. For more information about Real Capital Solutions, visit http://www.realcapitalsolutions.com.

CONTACT: PRESS CONTACT: Karen Marotta PR Manager, Greystone 212-896-9149 KMarotta@Greyco.com

Source: Greystone