Greystone Brown Real Estate Advisors Closes $18 Million Sale of Georgia Multifamily Acquisition  

NEW YORK, Oct. 10, 2017 (GLOBE NEWSWIRE) -- Greystone Brown Real Estate Advisors today announced it has closed on the sale of Oglethorpe Square, a 160-unit apartment community, for $18,095,000. Located in Pooler, GA in Chatham County, the property was sold on September 27. Bo Brown and Steve Mack of Greystone Brown Real Estate Advisors represented the buyer and seller in the transaction.

Constructed in 2006, Oglethorpe Square is a gated multifamily community located within close proximity to historic Savannah, GA. The property offers amenities including a swimming pool, fitness center, clubhouse, BBQ area, walking paths, and convenient access to shopping, dining and recreation.

“Bringing this fractured condo back together for a sale was a challenge, but it ultimately presented an incredible opportunity for the buyer to acquire a quality asset with substantial room for value-add,” said Steve Mack, Director, Greystone Brown Real Estate Advisors. “The greater Savannah region is seeing rapid growth, and the Pooler market is certainly benefiting from its proximity to such a desirable city,” he added.

About Greystone Brown Real Estate Advisors
In 2016, Greystone, a real estate lending, investment and advisory company, and Brown Realty Advisors created a joint venture combining Greystone’s comprehensive financial platform and Brown Realty’s sales expertise in multifamily and retail properties throughout the Southeast. In 2015, Brown Realty was #1 for sales of multifamily assets larger than 85 units built previous to 1995. Established in 1975, Brown Realty is one of the largest and oldest privately-held apartment brokerage firms in the South having closed more than $5 billion in acquisitions and dispositions.

About Greystone
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 Fannie Mae lender 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

Source: Greystone