Greystone, a leading national commercial real estate lending, investment and advisory company, announced it has provided a $33,700,000 Freddie Mac loan to refinance Belmont Shores Mobile Estates, a 347-unit age-restricted manufactured housing and mobile home community in Long Beach, California. The transaction was originated by Dale Holzer in Greystone’s Newport Beach, CA office, on behalf of Alamitos Bay Partnership LLC with Don Smith of Sunrise Mortgage & Investment Co. acting as a correspondent.

The $33.7 million Freddie Mac loan carries a 15-year term and a 30-year amortization period. The loan will help fund significant capital improvements for the property, including reconfiguration of the common area’s buildings.

Located within the beach community in California, Belmont Shores Mobile Estates offers a beach lifestyle for its residents with a 24-hour manned entrance gate. Residents have access to various amenities including a clubhouse, swimming pool, jacuzzi spa, exercise and laundry facility, billiard room, library, walking path and gathering areas. The property is located a block east of Pacific Coast Highway and is walking distance to shopping and recreation areas.

“It’s been a pleasure collaborating with the borrower to help them achieve their ambitious plan to revitalize this property,” said Mr.Holzer. “The property has been in our client’s portfolio since 1981; securing the financing helps to facilitate the long-term viability of the property and most importantly, ensure a comfortable living space for the residents of Belmont Shores Mobile Estates.”

“Greystone’s expertise with the Freddie Mac lending platform has been an asset to this financing process and we are thrilled to move forward with our capital improvement plan,” said Greg Gill, member and local representative of the borrower. “We thank them for their close collaboration on this transaction and look forward to continue to grow our relationship.” 

Greystone, a leading national commercial real estate lending, investment and advisory company, announced it has provided a $33,700,000 Freddie Mac loan to refinance Belmont Shores Mobile Estates, a 347-unit age-restricted manufactured housing and mobile home community in Long Beach, California. The transaction was originated by Dale Holzer in Greystone’s Newport Beach, CA office, on behalf of Alamitos Bay Partnership LLC with Don Smith of Sunrise Mortgage & Investment Co. acting as a correspondent.

The $33.7 million Freddie Mac loan carries a 15-year term and a 30-year amortization period. The loan will help fund significant capital improvements for the property, including reconfiguration of the common area’s buildings.

Located within the beach community in California, Belmont Shores Mobile Estates offers a beach lifestyle for its residents with a 24-hour manned entrance gate. Residents have access to various amenities including a clubhouse, swimming pool, jacuzzi spa, exercise and laundry facility, billiard room, library, walking path and gathering areas. The property is located a block east of Pacific Coast Highway and is walking distance to shopping and recreation areas.

“It’s been a pleasure collaborating with the borrower to help them achieve their ambitious plan to revitalize this property,” said Mr.Holzer. “The property has been in our client’s portfolio since 1981; securing the financing helps to facilitate the long-term viability of the property and most importantly, ensure a comfortable living space for the residents of Belmont Shores Mobile Estates.”

“Greystone’s expertise with the Freddie Mac lending platform has been an asset to this financing process and we are thrilled to move forward with our capital improvement plan,” said Greg Gill, member and local representative of the borrower. “We thank them for their close collaboration on this transaction and look forward to continue to grow our relationship.” 

Greystone, a leading national commercial real estate lending, investment, and advisory company, announced it has provided $8,005,000 in total Fannie Mae small loans to refinance a portfolio of multifamily properties in Philadelphia, Penn. The loans were originated by Anthony Cristi of Greystone’s New York office on behalf of La Gioconda Company, a family-owned multifamily property investment firm based in Philadelphia.

The Fannie Mae financing was secured for a total of 10 workforce housing properties totaling 88 units. All properties received fully amortizing Hybrid 7-year adjustable rate mortgages.  

“Fannie Mae financing provides an ideal solution for value-add and refinance strategies, especially in today’s favorable rate environment,” said Mr. Cristi. “Greystone has a robust suite of financing solutions for any capital need, and I am thrilled to have assisted La Gioconda in their quest to extract value from their assets and reduce their debt service.”  

“Greystone’s expertise in multifamily refinance has proven a truly valuable part of our property investment strategy,” said borrower Domenico Nigro. “With their guidance, we will be able to optimize and expand our real estate portfolio over time.”

Greystone Provided $16.2 Million in Financing

Greystone Brown Real Estate Advisors announced it has closed the separate sale transactions of two multifamily properties with a total value of $35,125,000 in Austell, GA.

Greystone Brown advised the buyer, Castle Lanterra Properties, and brought the seller, Tudor McLeod Asset Management, to the $19,725,000 sale of 300 Riverside. The sale was handled by Chandler Brown, Taylor Brown, Barden Brown and Bo Brown, and a $16,200,000 loan for the transaction was also provided by Greystone.

The 300 Riverside transaction was financed with a 10-year Fannie Mae loan. The recently upgraded 300 Riverside property offers 220 well-appointed one-, two- and three-bedroom units with walk-in closets, sunrooms, fireplaces and balconies. Other amenities include a clubhouse, swimming pool, sports court, access gate and on-site laundry facilities.

For the $15,400,000 sale of Villas at Riverside, Greystone Brown advised the seller, Moneil Investment Group. The sale was handled by Barden Brown, Cory Caroline Sams and Bo Brown.

Located at 648 Whisper Trail, Villas at Riverside offers 266 garden-style luxury units with one-, two-, three- and four-bedroom floorplans averaging 1,023 square feet in size. Other amenities at the property include a clubhouse, swimming pool, laundry center, sport court, playground and access gate.

Both properties are located near shopping, excellent schools, places of worship and Six Flags, in highly desirable and rapidly growing Cobb County. Just 20 minutes from downtown Atlanta and on the Cobb County Transit Busline (CCT), the properties are close to Interstate 20 and are near major industrial and business parks.

“Both of these multifamily sales involved repeat clients on each side of the deal, which excites us the most because it speaks volumes about the premium they place on our services and expertise,” said Bo Brown, President, Greystone Brown Real Estate Advisors. “When clients recognize that our team will work tirelessly on their behalf for the best transaction and terms possible, they continue coming back to us for help enhancing their multifamily portfolios.”

Greystone, a leading commercial real estate lending, investment, and advisory company, has provided a $37,000,000 Fannie Mae seniors loan to refinance an independent living community located in Pearland, Texas. The transaction was originated by Cary Tremper, on behalf of Integrated Real Estate Group (IREG) and their affiliated operator Integrated Senior Lifestyles (ISL).

The 10-year senior mortgage refinances Watercrest at Shadow Creek Ranch, a 222-unit independent living community that was constructed in 2017 offering one-bedroom, two-bedroom, three-bedroom, and villa residences. This community offers residents a la carte services, including full services with meals and housekeeping.

Watercrest at Shadow Creek Ranch also offers residents a number of amenities geared toward a healthy lifestyle, including country-club style clubhouse with a robust activities program; heated indoor pool; beautiful courtyards with planter gardens and canal walks adjacent to the grounds.

“The IREG/ISL family of Companies develop, build and operate incredible seniors housing communities,” said Mr. Tremper. “We are thrilled to have worked with the IREG industry professionals on a financing solution that best fits their needs as they continue to grow their seniors housing portfolio.”

Greystone, a leading commercial real estate lending, investment, and advisory firm, today announced the closing of a $37,050,000 permanent loan made to an affiliate of the Shirian Family’s Lions Group to refinance 14-01 Broadway, a new 82-unit 100% market-rate multifamily rental apartment building located in Astoria, NY. The 10-year fixed-rate Fannie Mae loan replaces a Bank Leumi construction facility.

Family-owned and managed, Lions Group leverages its expertise through acquisition, development, construction and management of residential, commercial, and retail properties. Lions Group currently owns and operates over 1,500,000 square feet of luxury condominium, multifamily, and commercial spaces and has excelled in delivering products to Queens, completing over ten projects in the borough within the last fifteen years. Lions Group is run by Albert, Ramin, Aaron, Jake and Allen Shirian.

14-01 Broadway’s superb location in the Astoria neighborhood bordering Long Island City provides residents with breathtaking views of Manhattan, as well as easy access to the neighborhood’s numerous modes of transportation and wide range of amenities.

14-01 Broadway offers carefully designed amenities for residents intended to enhance the city lifestyle while simultaneously emphasizing relaxation and fun. Residents of the building have access to a state-of-the-art fitness center and sauna. Additionally, there is a 5,000 square foot outdoor lounge on the second floor, as well as a 1,000 square foot landscaped roof terrace, offering 360-degree views of Manhattan and Queens. Residents also have access to a bike room and parking, as well as an on-site Zipcar location.

Greystone Capital Advisors, represented by Drew Fletcher, Matthew Klauer, and Bryan Grover, served as exclusive advisor on the transaction. “Lions Group has been one of New York City’s most active residential developers in Queens with multiple projects delivered or under construction. They have developed thoughtfully-designed, first-class buildings that stand out in their neighborhoods and we are extremely proud to have worked with them on this assignment,” said Mr. Fletcher.