Greystone, a leading national commercial real estate finance company, has provided a $25,239,000 Freddie Mac Optigo® loan to refinance a 240-unit multifamily property in Valparaiso, Indiana. The financing was originated by Dan Sacks and Eric Rosenstock, both Senior Managing Directors at Greystone, on behalf of Bayshore Properties.

Constructed in 1973, Andover Park Apartments comprises 10, two-story residential buildings spread across 14.34 acres. The property’s amenities include a swimming pool, tennis courts, and playground. The $25.2 million Freddie Mac loan carries a 10-year term at a fixed rate and a 30-year amortization.

“We have built a long-standing relationship with Bayshore Properties and have truly enjoyed helping them refinance dozens of their quality multifamily assets over the years,” said Mr. Rosenstock. “Having a client trust us over and over because of our commitment to providing the best service and an ever-growing range of financing options really reinforces why we love what we do and who we do it for.”

265 Units To Be Constructed utilizing 4% Low-Income Tax Credits with Additional Financing Partners Bank of America, Amazon, Virginia Department of Housing and Community Development, and Fairfax County Redevelopment and Housing Authority

Greystone, a leading national commercial real estate finance company, has provided $39,000,000 in Freddie Mac Tax-Exempt Loan (TEL) Unfunded Forward financing towards the construction of  265-units of a 516 unit affordable housing property in Tysons, Virginia. The financing was originated by Pharrah Jackson, Vice President at Greystone, on behalf of non-profit housing developer Arlington Partnership for Affordable Housing (APAH).

Located at 1592 Spring Hill Road within the Washington DC MSA, the multifamily project is a part of a larger development known as The Exchange at Spring Hill Station and will be the first 100% affordable housing property in Tysons. The completed building will be developed on two acres and will consist of two, 20-story residential condominiums (Dominion North, the Subject, and Dominion South) and a community center condominium owned and managed by Fairfax County Government. Planned residential project amenities also include community rooms, a business center, landscaped courtyard, resident support services, resident lounge, and laundry facilities.

The unit mix for Dominion North consists of 55 one-bedroom units, 146 two-bedroom units, and 64 three-bedroom units, with 100% of the units at varying affordability restrictions (40 units at 30% area median income (AMI), 77 units at 50% AMI, 87 units at 60% AMI and 61 units at 70% AMI). In addition, Fairfax County Redevelopment and Housing Authority (FCRHA) has approved and awarded APAH 40 project-based vouchers for Dominion North. The units are required to be leased to households at or below 50% AMI. APAH elected to lease those 40 units at 30% of AMI in the following mix: 9-one bedrooms, 22-two bedrooms, and 9-three bedrooms.

The Freddie Mac Forward commitment financing includes a 48-month construction period with a 17-year permanent loan term. Bank of America, the equity investor for this transaction, will be providing capital contributions in excess of $60 million in tax-credit equity during the course of the construction timeline. Other debt sources for Dominion North include: Amazon Housing Equity Fund ($29,000,000); Virginia Housing Trust Fund ($700,000); Virginia Department of Housing and Community Development (VADHCD) Energy Efficiency (HIEE) ($2,000,000); and FCRHA Blueprint & Move to Work – HCV Reserve Loan Funds ($18,986,897).

"The Exchange at Spring Hill Station marks a significant step forward in our commitment to providing affordable housing options at-scale in an area of incredible opportunity," said APAH President and CEO Carmen Romero. “Having partners like Greystone is fundamental to securing the critical financing needed to make a project of this magnitude possible. As a result, the residents who will call The Exchange home will have access to a vibrant and rapidly growing community full of opportunity and resources. More than just what you build, and where, but who you build for is what matters most.”

“It’s so gratifying to see a 100% affordable development plan come to fruition, and when you realize how many partners and contributors it takes to make it happen, you really appreciate both the need and impact of affordable housing in our country,” said Ms. Jackson. “We are thrilled to play a role as the permanent lender with Freddie Mac’s Forward TEL program, which has been truly transformative in the affordable housing construction space. We congratulate all of the parties involved and are looking forward to the ribbon cutting in 2027.”

Greystone Commercial Capital (GCC) has closed a $419,590,000 transaction to refinance Panorama Tower, located on Brickell Bay Drive in Miami, Florida. The property is an 85-story, Class A+, mixed-use, residential complex featuring 821 multifamily residences, 112,731 square feet of Class A office space, 25,219 square feet of retail space, a 2,000-space private parking garage, and an attached 19-story, 208-room Hyatt Centric Hotel. The deal included a structured Agency loan in tandem with an investment led by a global pension fund.

GCC is a division of Greystone that focuses on structured commercial mortgages for institutional clients across all major property types. This transaction consisted of a $334,590,000 Freddie Mac Optigo® senior loan funded by Greystone Servicing Company LLC that carries a five-year term and 35-year amortization combined with $85,000,000 of Agency-compliant subordinate debt.

“GCC delivered a market leading and innovative structured finance solution. We are grateful to partner with top financial institutions and Florida East Coast Realty on such a noteworthy project in Panorama Tower,” said Scott Chisholm, President and Chief Investment Officer at Greystone Commercial Capital.

About Greystone

Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com.

Securities transactions are processed through INTE Securities LLC dba Greystone INTE BD, member FINRA www.finra.org  www.sipc.org. For information regarding INTE Securities LLC go to www.finra.org/brokercheck.

Greystone, a leading national commercial real estate finance company, has provided $15,400,000 in Bridge-to-Agency financing for a five-property multifamily portfolio in Texas. Intended to facilitate the refinancing and complete renovation, the bridge loan was originated by Lance Wright, Managing Director at Greystone on behalf of a Texas-based family office, with Duke Stone of Churchill Capital Company acting as the correspondent on the transaction.

The multifamily portfolio, built between the 1960s and 1970s, consists of three properties located in Sherman, Texas, and two in Denison, Texas. Totaling 189 units, the properties will receive both interior and exterior renovations to improve operations, and then move toward a permanent exit with Agency financing from Greystone. The interest-only bridge financing carries a two-year term with two, six-month extension options.

“Greystone’s Bridge-to-Agency option is a great solution for value-add properties that are in active stabilization with room for improvement, with an ultimate goal for long-term financing,” said Mr. Wright. “Our goal is to provide the right solution for every transaction to help our clients realize the full potential for all of their properties.”

Greystone, a leading national commercial real estate finance company, has provided a $41,664,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) loan to refinance a 280-unit multifamily property in Cape Coral, Florida. The financing was originated by Kyle Jemtrud, Managing Director at Greystone, with Kevin Coscia of Largo Capital acting as correspondent.

Constructed in 2022, The Palms at Cape Coral in Lee County is a garden-style apartment community with five buildings featuring one-, two- and three-bedroom units. The property’s amenities include a clubhouse, fitness center, swimming pool, pet park and pickleball court. The $41,664,000 non-recourse, fixed-rate Fannie Mae loan features a 10-year term and 30-year amortization, with five years of interest-only payments.

“We truly appreciate that our client chose Greystone again for finding the right long-term financing for another property in their portfolio,” said Mr. Jemtrud. “When it comes to navigating the multifamily lending process, clients rely on our extensive industry expertise and deep lending platform for solutions that meet their needs in any market.”

“We are thrilled that Greystone was able to refinance this property and set us up for long-term success,” said Mr. Bryan Young, principal of the borrower. “Once again, we are impressed with Greystone’s multifamily capabilities and high standard of service excellence – they are a true partner who delivers invaluable insights on every transaction.”

Greystone, a leading national commercial real estate finance company, announced that its Low Income Housing Tax Credit (LIHTC) Syndication Platform has added Sarah Laubinger as Chief Operating Officer and Todd Jones as Chief Investment Officer. Both executives report to Greg Voyentzie, Chief Executive Officer of the LIHTC Syndication Platform known as Greystone Real Estate Capital.

In their roles, Ms. Laubinger and Mr. Jones will focus on growing Greystone Real Estate Capital, which will deploy capital for the preservation and new construction of affordable housing communities across the U.S., and ultimately create jobs, generate tax revenue for municipalities, and positively enhance the lives of families, seniors, minorities, veterans, and those with disabilities who seek affordable housing.

Prior to joining Greystone, Ms. Laubinger spent over 25 years at Boston Financial, an ORIX company, and offers almost three decades of affordable housing production experience to the team, having raised capital from investors, cultivated developer relationships, and structured, underwrote, and closed LIHTC investments. Under Sarah's leadership, Boston Financial's annual LIHTC production market share expanded from under $300 million to over $1.3 billion annually and successfully deployed $200 million in Affordable Housing Preservation Equity (Non-LIHTC). Sarah also led Boston Financial’s Community Development Financial Institution (CDFI) initiative and successfully obtained CDFI designation by the United States Department of the Treasury as the only national, for-profit affordable housing syndicator-affiliate CDFI in the country. Sarah has been both recognized by Affordable Housing Finance as one of America’s top women in affordable housing and honored by Preservation Massachusetts with the Paul & Niki Tsongas Award for her outstanding commitment to the revitalization of safe and affordable housing throughout the Commonwealth.

Mr. Jones joins Greystone with over 19 years of affordable housing experience and a track record of being involved in raising over $11 billion of institutional capital for tax-advantaged investment funds. He most recently served as the Head of Tax Credit Equity Production at Boston Financial, where he was both a member of its Executive Committee and Investment Committee. While there, he was responsible for leading the day-to-day strategic direction of the company’s tax credit syndication business, including national originations, asset selection, pricing, structuring, and marketing of its tax credit equity funds, as well as all investor sales and relations activities of the firm. Prior to joining Boston Financial in 2012, Mr. Jones was Vice President and Manager of Institutional Sales at PNC Financial Services Group where he led the sales and marketing efforts of its national LIHTC investment funds. He is a past board member of the Affordable Housing Tax Credit Coalition (AHTCC) and continues to remain active in advocating on behalf of the tax credit industry and affordable housing.

“I’m thrilled to welcome Sarah and Todd to Greystone, where we will work together again to advance the production of affordable housing nationwide,” said Mr. Voyentzie. “With the support of Greystone’s diverse range of financing platforms, resources, and relationships, I am so optimistic about the impact we can make for both existing clients and new relationships. This is truly the opportunity of a lifetime to build a team and platform within such an entrepreneurial and altruistic organization.”

Securities transactions are processed through INTE Securities LLC dba Greystone INTE BD, member FINRA www.finra.org  www.sipc.org. For information regarding INTE Securities LLC go to www.finra.org/brokercheck.