Greystone, a national commercial real estate finance firm, has secured $35.2 million in financing for acquiring a multifamily property in College Station, Texas. This financing was sourced on behalf of Partin Development by Greystone’s Senior Managing Director, Eric Rosenstock, with assistance from Managing Director Thomas Wayda and Associate Dante DiStefano, who managed the debt placement process.
The financed property, known as 1720 at Harvey, is a Class-A, 288-unit multifamily community featuring a range of 1-, 2-, and 3-bedroom apartments. The community offers a variety of resident amenities, including a fitness center with a yoga and spin studio, a resort-style pool, BBQ grilling areas, an outdoor dining pavilion, a pet spa, a game room, and a dog park. The financing structure is a non-recourse bridge loan provided by a private debt fund with a two-year term and a 12-month extension option. The loan is structured as interest-only for its full term.
According to Rosenstock, Greystone’s commitment to tailoring financing solutions is central to its client-focused approach, whether in long-term agency financing or short-term bridge loans. “Our goal is to meet our clients’ needs regardless of the market conditions,” he noted.
Managing Director Thomas Wayda added that each property requires a unique financing solution, and Greystone continually leverages its lending relationships to achieve its clients’ goals.
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By Proptechbuzz
By Ravi Kumar