NEW YORK, May 23, 2016 (GLOBE NEWSWIRE) -- Greystone, a real estate lending, investment and advisory company, today announced it has provided a $5,000,000 Freddie Mac Small Balance Loan to finance the acquisition of Greystone Place Apartments in Sacramento, CA. The loan for the property, which is not affiliated with Greystone, was originated by John Tilsch of the company’s San Francisco office.
The Freddie Mac Small Balance Loan carries a 20-year term with a fixed rate for the first five years and one year of interest-only over a 30-year amortization at 73% LTV. Greystone Place is a 120-unit apartment complex located in the premier secondary market in California.
"With its rapid growth in population and employment, Sacramento is becoming one of the strongest rent growth markets in the nation," said Rick Wolf, senior managing director and head of Greystone's small loan lending group. “The client chose Greystone as a repeat lender due to our reputation as a leader in Freddie Mac Small Balance multifamily lending and our in-depth knowledge of the Sacramento market.”
Greystone provides mortgage finance solutions across multiple platforms, including FHA, Fannie Mae, Freddie Mac, USDA, CMBS, bridge, mezzanine and other proprietary loan programs.
Greystone is a real estate lending, investment and advisory company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA and as a top Fannie Mae lender, by volume, in these sectors. Our range of services includes commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge and proprietary loan products. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information, visit www.greyco.com.
PRESS CONTACT: Karen Marotta Greystone 212-896-9149 Karen.Marotta@greyco.com