Greystone, a leading national commercial real estate finance company, has provided a total of $21,808,000 in loans to refinance three multifamily properties in Tampa, Florida. The financing was originated by Anthony Cristi, Managing Director at Greystone.
The properties include the 33-unit Palms at Humphrey, the 36-unit Oaks at University, and the 95-unit Uptown Gardens community. The Greystone loans, featuring a private-label offering, with competitive, shorter loan terms and flexible pre-payment options, carry 5-year terms with fixed rates and 30-year amortizations, and include interest-only payments for periods ranging from one to five years.
“It’s gratifying to be able to offer a solution that fits the client’s needs to refinance this collection of multifamily properties,” said Mr. Cristi. “We’re always seeking ways to develop new financing options for our clients as the market evolves, and are pleased to offer a private-label solution when banks or other debt options may not fit the bill.”
Greystone, a leading national commercial real estate finance firm, provided $25,200,000 in Fannie Mae DUS® financing to refinance a 208-unit property in Columbus, OH. The loan was originated by Avi Kozlowski, Managing Director at Greystone.
The non-recourse Fannie Mae financing is a 10-year loan with a fixed rate, and is interest-only for five years. The property, comprising 13 two-story buildings, was built in 1999 and is 97.12% occupied. Property amenities include a clubhouse/leasing office, swimming pool, grilling station, dog park, covered parking, and pond.
Greystone, a leading national commercial real estate finance firm, provided a $23,484,000 Fannie Mae DUS® loan for the acquisition of a multifamily property comprising 200 units in Indianapolis, Indiana. The financing was originated by Avi Kozlowski, Managing Director at Greystone.
The non-recourse Fannie Mae Green Rewards financing is a 10-year loan with a fixed rate, and is interest-only with a 30-year amortization period. The property was built in 1972 and contains four one-bedroom/one-bath units; 115 two-bedroom/one-and-one-half bath townhome units; and 81 three-bedroom/one-and-one-half-bath townhome units. On-site amenities include a leasing office/clubhouse with fitness center, business center, playground, BBQ/picnic area and swimming pool.
Greystone, a leading national commercial real estate finance firm, provided a $25,160,000 Fannie Mae DUS® loan to refinance a two-property apartment complex comprising 293 units in Columbus, OH. The loan was originated by Avi Kozlowski, Managing Director at Greystone.
The non-recourse Fannie Mae financing carries a 7-year fixed-rate loan with a 30-year amortization and refinances the property that was acquired in 2021, enabling $1.9 million for renovations and upgrades. All units are two-bedroom/one-bath townhomes, with common amenities including a playground, BBQ area, and dog park, that are under construction.
Experienced Multifamily Debt Origination Team Brings Deep Industry Relationships to Expand Greystone’s Presence in the Southeast
Greystone, a leading national commercial real estate finance company, announced that Charlie Mentzer and Brad Waite have joined the firm as Senior Managing Directors, working across the lending platforms to originate financing for multifamily properties nationwide. The pair, each with over 20 years of industry experience, join Greystone from Capital One, where they were both Senior Vice Presidents, and will be based in Atlanta, enabling close collaboration with Cushman & Wakefield.
Since 2012, Charlie Mentzer had been responsible for new loan origination out of Capital One's Atlanta, Georgia office, having originated over $6 billion in transactions nationally during his career. He was previously a Vice President at Walker & Dunlop, and also served in loan origination roles at Primary Capital and Column Guaranteed.
Prior to his most recent role at Capital One, where he joined in 2015, Mr. Waite was a Vice President at Walker & Dunlop (previously CW Capital), and garnered experience with Agency and Balance Sheet underwriting across $5 billion in loan transactions. In addition to his experience and product knowledge, Mr. Waite is known for his unique ability to structure complex transactions through his years of both underwriting and origination experience.
“Charlie and Brad are a well-regarded multifamily deal team that will be an integral part of our continued growth strategy for loan origination, as well as our joint venture with Cushman & Wakefield,” said Rich Martinez, head of Agency lending production at Greystone. “They will add immense value to our clients from a debt perspective and will serve as important team leaders at Greystone – we are thrilled for their arrival.”
Reimagined Packard Car Company Warehouse Includes 18% of Units Reserved for Affordable Housing
Greystone Monticello, a bridge lending platform serving as a one-stop shop provider of capital finance products and services for the multifamily and senior housing sectors, provided a $12,165,000 bridge loan to refinance Packard Lofts Apartments, a mid-rise loft-style multifamily property located Boonton, New Jersey. The financing was originated by Eliav Dan, a Senior Managing Director at Greystone.
Packard Lofts Apartments is a 65-unit building originally constructed in the 1880s and utilized as a warehouse / distribution center by Packard Car Company in the 1950s. The property was then acquired in 2019 and converted to a loft-style residential building that includes community amenities such as a fitness area, storage, parking spaces and landscaping. The newly completed property has 12 units, or 18% of the total, reserved for affordable housing, as part of the New Jersey’s Fair Share program.
“We are proud to offer solutions such as attractive, non-recourse bridge-to-agency lease-up financing, enabling our client to ‘one stop shop’ the loan throughout the lease-up process, and ultimately get on the path to a stabilized Agency execution with minimal friction costs,” said Mr. Dan.
“We are thrilled to have worked together on this transaction, which will provide much-needed affordable housing to the Boonton market,” added Eric Baum, head of the multifamily sales desk at Greystone Monticello. “Our collaboration with Greystone ensures a seamless experience for property investors.”
