×

Greystone Closes $96 Million CMBS Loan for Multifamily Portfolio Acquisition

NEW YORK, April 22, 2015 (GLOBE NEWSWIRE) -- Greystone, a real estate lending, investment and advisory firm, today announced it has provided a $95,800,000 CMBS loan for the acquisition of a six-property multifamily portfolio on behalf of a Midwest-based borrower. The loan was originated by Robert Russell of Greystone.

Comprising 1,856 total units, the multifamily properties are located in Raleigh, North Carolina and the Dallas / Fort Worth region in Texas, including the following properties: Copper Crossing (DFW); Estrada Oaks (DFW); Sutter Creek (DFW); Remington Place (Raleigh); The Timbers (Raleigh); and The Trestles (Raleigh). The 10-year CMBS loan includes a 30-year amortization.

"The fundamentals in both Raleigh and Dallas remain extremely strong for multifamily acquisitions," said Russell, who serves as Head of Production for Greystone's CMBS team. "With Greystone's experience and speed of execution, the borrower was able to take advantage of favorable CMBS loan terms and an attractive interest rate so they could add immediate value to the properties."

Greystone provides real estate finance solutions across multiple asset classes and lending platforms, including FHA, Fannie Mae, Freddie Mac, USDA, CMBS, bridge, mezzanine and other proprietary loan programs.

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 including acquisition, development, and management of multifamily housing properties across the country. 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 financing solutions please visit http://www.greyco.com.

CONTACT: PRESS CONTACT: Karen Marotta Director of Communications, Greystone 212-896-9149 KMarotta@Greyco.com

Source: Greystone