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| Robert Russell |
NEW YORK, NY (Sept. 22, 2014) – Greystone, a leading
national provider of multifamily and healthcare mortgage loans, today announced
it provided a $16,500,000 CMBS loan to refinance a multifamily property in
Jacksonville, FL.
The transaction was
originated by Brian Fintz, an originator in the firm’s New York office.
The low-rate 5-year CMBS loan enables the borrower, Real
Capital Solutions, to continue strategic investment in their target markets.
The gated community, Eden’s Edge, includes 244 units and amenities such as a
swimming pool, resident lounge with free wi-fi, business / fitness centers, and
playground.
“Greystone’s ability
to provide an otherwise unavailable level of proceeds and work through the
challenges of underwriting a property in the evolving, dynamic investment
market in Jacksonville enabled us to carry out our business plan and realize
the substantial value added to the property since acquisition, providing investors
with returns that are unparalleled in the industry,” said Ken Cope of
Real Capital Solutions.
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| Edens Edge Apartments, Jacksonville, FL |
“The incredible
appetite for CMBS lending is a result of the inherent flexibility this platform
provides, and backed by our multifamily expertise, Greystone is able to exceed
borrowers’ expectations regardless of the market challenges,” said Robert
Russell, head of production for Greystone’s CMBS lending group.
For a complete copy
of the company’s news release, please contact:
Karen Marotta
PR Manager
Greystone
152 W. 57th Street
New York, NY 10019
212-896-9149 direct
917-902-7073 mobile
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