Greystone, a leading commercial real estate lending, investment, and advisory company, announced it has provided a $7,950,000 Freddie Mac Green Advantage® loan to refinance a 92-unit multifamily property in Las Vegas, Nevada. The transaction was originated by Ana Ramos, Managing Director in Greystone’s Los Angeles office with Andy Bratt of Newmark Realty Capital acting as correspondent.

The $8 million fixed-rate loan carries a 10-year term with three years of interest only payments and a 30-year amortization period. The property, Nottingham Gardens, is a garden-style apartment and townhome community built in 1974. Since its acquisition in 2015, the current owner has invested in many capital improvements, both interior and exterior. 

“The Freddie Mac Green Advantage® program is an ideal financing solution for properties that can incorporate energy efficient measures with both electricity and water use,” said Ms. Ramos. “The combined benefits of this program yield not only a more efficient building, but also more attractive loan terms for going green. This platform is a win-win for any real estate investor.”

“Greystone’s execution of this loan was superb, from the terms to the communication and transparency from Ana and her team,” said Sarla Gupta, property owner of Nottingham Gardens. “We are so thrilled with the outcome and look forward to working with Greystone on future transactions.”

Greystone, a leading commercial real estate lending, investment, and advisory company, has provided a total of $115 million in Freddie Mac and Fannie Mae Shariah-compliant financing for the acquisition of a 6-asset seniors housing portfolio. Cary Tremper of Greystone originated the financing on behalf of Madison Marquette; GFH Capital, a subsidiary of GFH Financial Group; and operating partners, SRG Senior Living and JEA Senior Living.

Located in California, Michigan, and Washington, the 509-unit, 589-bed portfolio includes an independent living community, two assisted living communities, and three memory care communities.

“It is always a pleasure to work with high-quality sponsors such as Madison Marquette and GFH, and their recent collaboration is an indicator that the global market sees immense value in the senior housing sector,” said Cary Tremper, head of Greystone’s seniors housing finance team. “We are thrilled to have provided financing for this portfolio and are excited for what’s to come for both investors.”

Greystone, a leading commercial real estate lending, investment, and advisory company, has provided a total of $115 million in Freddie Mac and Fannie Mae Shariah-compliant financing for the acquisition of a 6-asset seniors housing portfolio. Cary Tremper of Greystone originated the financing on behalf of Madison Marquette; GFH Capital, a subsidiary of GFH Financial Group; and operating partners, SRG Senior Living and JEA Senior Living.

Located in California, Michigan, and Washington, the 509-unit, 589-bed portfolio includes an independent living community, two assisted living communities, and three memory care communities.

“It is always a pleasure to work with high-quality sponsors such as Madison Marquette and GFH, and their recent collaboration is an indicator that the global market sees immense value in the senior housing sector,” said Cary Tremper, head of Greystone’s seniors housing finance team. “We are thrilled to have provided financing for this portfolio and are excited for what’s to come for both investors.”

Greystone, a leading commercial real estate lending, investment, and advisory company, has provided a $6.5 million Freddie Mac Small Balance Loan (SBL) to refinance a 53-unit multifamily property in East Orange, New Jersey. The transaction was originated by Jason Yuen in Greystone’s New York office, on behalf of Rockledge Clinton LLC. Red Oak Capital Advisors arranged the financing for the borrower.

The $6,500,000 financing is a non-recourse adjustable rate mortgage with a fixed rate for five years and a 30-year amortization period. Built in 1927, 49 South Clinton Street is a four-story, elevator building comprising one-, two- and three-bedroom apartments, with on-site laundry and parking.

“Serving the workforce housing market is a Greystone specialty – we take pride in helping our clients in this segment of the multifamily market,” said Mr. Yuen. As a Top lender for both Freddie Mac and Fannie Mae small loan transactions, Greystone has consistently originated over $1 billion in loans for this category, which includes financing for multifamily properties between 5 and 50 units and loans from $1 million up to $7.5 million.

“I would like to thank Jason Yuen, Fred Levine, and the entire Greystone team for their hard work and effort in closing my recent New Jersey based multifamily refinancing through Freddie Mac. They were professional and creative at every stage and ultimately accomplished exactly what was promised. Overall, the transaction was smooth and efficient, and I very much look forward to working with Greystone again on future transactions,” said Marc Watkins, president of Rockledge Clinton, LLC.

“The entire Greystone team was diligent, responsive, and communicated clearly on a regular basis throughout the transaction,” said Samuel Guss, president of Red Oak Capital Advisors. “And most importantly for us and for our long-time client, Greystone closed the loan as quoted and on time.”

Greystone, a leading national commercial real estate lending, investment, and advisory company, has provided a $16.5 million Freddie Mac Program Plus loan for the acquisition of a 100-unit senior living community in New Jersey. The loan was originated by John Williams and Ephraim Kantor in Greystone’s New York office, on behalf of the buyer, Sela Realty, with Adam Zweibel, senior vice president of Gebroe-Hammer as broker.

The $16,500,000 Freddie Mac loan carries a 10-year term and 30-year amortization, with a low, fixed interest rate and interest-only payments for the first five years.

Built in 2009, Waterside Villas is a three-story community offering spacious studio, one- and two-bedroom units with modern amenities to adults 55 and over in the Concordia neighborhood of Monroe Township, New Jersey. Residents enjoy 24-hour building security, in-unit laundry, complimentary continental breakfast and housekeeping, as well as access to a state-of-the-art fitness center, business center and concierge service. The property is located near Princeton and other historic communities offering a wide range of retail, dining and entertainment options. Its prime location midway between New York City and Philadelphia offers residents easy access to the New Jersey Turnpike and other major highways and thoroughfares.

“Timing is of the essence while completing a 1031 exchange, and we’re pleased we were able to place this permanent acquisition debt at favorable terms, so they can make strategic investments in other parts of their portfolio,” said Mr. Kantor. “Waterside Villas exemplifies a trend in lifestyle choices being made by active Baby Boomers in this region, and our team moved quickly to deliver the right financing for this property in one of the best performing markets in New Jersey.”

“We are thrilled to have worked side-by-side with the Greystone team to close this transaction quickly. Waterside represents an attractive multifamily investment opportunity,” said buyer Tal Steinberg. “As we expand our portfolio of age-restricted communities to meet the growing demand of aging Baby Boomers, we will rely on Greystone for financing on future transactions.”

WASHINGTON D.C., August 1, 2019 – JLL announces it has secured $24.9 million in acquisition financing for 251 North, a 192-unit, garden-style property located at the juncture of Atlanta’s Midtown, Old 4th Ward and East Atlanta neighborhoods.

Working on behalf of Taurus Investment Holdings, LLC, JLL arranged the 10-year, floating-rate loan through Freddie Mac’s Green Advantage program. The loan will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo℠ lender. JLL also arranged the sale of the property to Taurus Investment Holdings.

251 North is located at 300 Cityline Avenue NE adjacent to outdoor recreation at Renaissance Park and Central Park. In addition, the property is near Midtown Atlanta’s job market and some of the city’s most popular entertainment and restaurants, including the Atlanta Beltline and Ponce City Market. Originally completed in 1989, the property consists of one- and two-bedroom floor plans that feature spacious layouts, walk-in closets and options for duplex/loft units. Community amenities include a resort-style pool, outdoor grilling station, cardio-based fitness center, 24/7 laundry facility and covered parking. 251 North was more than 93% occupied at closing.

The JLL Capital Markets team representing the borrower was led by senior director Jamie Leachman and director Ware Shipman.