Greystone, a leading national commercial real estate finance company, has provided a $46,000,000 Freddie Mac loan to refinance Madbury Commons, a student housing community located in Durham, New Hampshire. The financing was originated by Eric Rosenstock, Jesse Yodice and Yarin Amzalag, at Greystone.
The $46,000,000 fixed-rate financing carries a 10-year term and amortization, with full-term interest only payments.
Located in Strafford County, Madbury Commons is walking distance from the University of New Hampshire and downtown Durham. The student housing complex consists of 524 beds across 126 fully furnished residential units, with 45,000 square feet of commercial space on the ground level. The community offers modern student amenities, including a fitness center, and its prime location enhances walkability and access to campus.
“Greystone is committed to executing on transactions that enable our clients to provide quality housing in markets with extremely high demand—as is the case with student housing in many college towns across the country,” said Mr. Yodice. “Our comprehensive multifamily lending platform allowed us to structure a solution through Freddie Mac at terms that reflect both the strength of the sponsorship and the performance of this unique property.”
Greystone, a leading national commercial real estate finance company, has provided a $42,400,000 Freddie Mac loan to refinance Cortland on the River, a 237-unit multifamily community in Boise, Idaho. The transaction was originated by Clint Darby and Andrew Remenschneider of Greystone, in conjunction with BMO Bank as correspondent.
Located in Ada County, Cortland on the River is a mid-rise apartment community built in 2021, featuring well-appointed studio, one- and two-bedroom units and smart home features. Property amenities include a resort-style pool, fitness center, dog park, outdoor kitchen and on-site parking. The property benefits from strong sponsorship by Cortland, a national multifamily investment and management firm with an extensive agency lending track record. Despite rising cap rates, the property has maintained high occupancy and strong operating performance.
“Freddie Mac’s index lock provided Cortland with the flexibility to strike in a volatile rate environment while optimizing proceeds,” said Mr. Darby. “Greystone values the high-quality clients we continue to serve, and this addition to the portfolio is exceptional.”
Refinance Supports Continued Investment in Sloane Chelsea, a 266-Unit Apartment Building in the Heart of NYC
Greystone, a leading national commercial real estate finance company, announced the closing of a $30,000,000 Freddie Mac Conventional loan for Sloane Chelsea, a 266-unit high-rise multifamily property located at 360 West 34th Street in New York, NY. The financing was originated by Robert Meehan, Managing Director at Greystone.
Originally constructed in 1930 and fully renovated in 1996, Sloane Chelsea offers a mix of studio, one-, two- and three-bedroom units, along with upscale amenities including a fitness center, laundry facilities, private storage, and 24-hour attended lobby. Recent upgrades to the property include renovations to 180 units and planned elevator modernization. The property is located in Manhattan’s Chelsea neighborhood, steps from Penn Station, Madison Square Garden, and major retail and transit hubs.
“Sloane Chelsea is a prime example of long-term ownership and stewardship of a historic New York asset,” said Mr. Meehan. “We’re pleased to support the Kibel and Gardner families with a financing solution that allows them to continue enhancing the property’s value while preserving financial flexibility.”
Greystone, a leading national commercial real estate finance company, has provided $46,972,000 in Freddie Mac financing to refinance a two-property multifamily portfolio totaling 674 units in Houston, Texas. The financing was originated by Gill Dolan, Managing Director at Greystone.
The two Houston properties offer residents a range of well-maintained, garden-style apartment homes with access to amenities such as gated entry, onsite laundry facilities, dedicated parking, and outdoor communal spaces. Approximately 65% of the units across the portfolio have been renovated with modern finishes and upgraded fixtures, with additional improvements underway to further enhance quality of life. Strong occupancy rates reflect the properties’ appeal in a high-demand submarket within the context of Houston’s growing need for affordable multifamily housing.
“Greystone has shown time and again our ability to structure agency loans that fit our clients’ needs, especially in a market as competitive as Houston,” said Mr. Dolan. “These financings aren’t just about lowering rates or achieving proceeds—they’re about setting owners up for long-term success and improving the quality of housing in the communities we serve.”
Greystone, a leading national commercial real estate finance company, has provided a $26,320,000 Freddie Mac loan to finance the acquisition of Tiberon Trails apartments, a multifamily property in Merrillville, Indiana. The financing was originated by Eric Rosenstock, Senior Managing Director at Greystone, on behalf of Bayshore Properties, a long-time Greystone client.
In addition, Greystone Equity Services brought in MORE Capital (an affiliate of Morgan Properties) as a preferred equity provider, which supplied a $4,960,000 pref equity loan in conjunction with the Freddie Mac financing.
Tiberon Trails, located in Merrillville, comprises 374 rental units with a diverse mix of studio, one-, two-, and three-bedroom apartments. Community amenities include a fitness center and playground. The Freddie Mac loan carries a fixed interest rate over a 5-year term, with a 30-year amortization and two years of interest-only payments.
“My team’s deep experience in agency lending ensures seamless execution and reliable financing for our clients’ strategic acquisitions,” said Mr. Rosenstock. “We are pleased to support our client’s continued growth in the Midwest with this transaction.”
Nick Kozul of Bayshore Properties added, “Greystone’s consistent ability to deliver certainty of execution is invaluable to our acquisition strategy. Their guidance and responsiveness throughout the process have been instrumental as we scale our multifamily portfolio across key markets.”
Berkadia, a distinguished leader in the commercial real estate sector, announces that it secured a $33.3 million loan for the acquisition of Gateway on 4th Apartments, a 304-unit multifamily asset in St. Petersburg, Florida.
Managing Director Brad Williamson and Associate Director Wes Moczul, along with Senior Managing Director Mitch Sinberg, and Managing Directors Scott Wadler and Matt Robbins of Berkadia Miami and Boca Raton, arranged the financing on behalf of a Texas-based firm. The deal closed on June 30.
Berkadia originated a Freddie Mac-backed fixed-rate loan with a five-year term and three-years interest-only.
“The sponsor saw an opportunity to expand its footprint in Florida with a well-located multifamily asset in good condition with an exceptionally strong occupancy history in one of Florida’s fastest-growing metros,” said Williamson. “Freddie Mac provided competitive terms that will allow the firm to confidently execute on its business plan.”
Built in 1974 and located at 501 116th Avenue, Gateway on 4th Apartments consists of 32 two-story apartment buildings on a 15-acre site offering a mix of one-, two- and three-bedroom apartments ranging from 618 square feet to 1,498 square feet. Amenities include a swimming pool with sundeck, 24-hour fitness center, bark park, dog wash station, outdoor kitchen with picnic seating, firepit area, jogging trail, and children's playground. Renovations planned for the community include adding washer/dryers to units, installing new appliances, and replacing floors and fixtures as needed.
Conveniently located 5 minutes from I-275 and Highway 92, Gateway on 4th Apartments is just 20 minutes from downtown Tampa, 15 minutes from Downtown St. Petersburg, and 25 minutes from the beaches of St. Pete. It is located near several of the area’s top schools and employers, including Pinellas County Schools, St. Petersburg College, Galen College of Nursing, Publix, Jabil, HSN, and HCA Florida Northside Hospital.
About Berkadia®:
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.
To learn more about Berkadia, please visit www.berkadia.com.
