Greystone provides $64m Freddie Mac loan

Greystone has closed a $64m Freddie Mac loan for a 664-unit multifamily property in Roswell, Georgia. The seven-year loan on Park 83 includes three-years of interest only payments followed by 30-year amortization for the remaining term.

Greystone has closed a $64m Freddie Mac loan for a 664-unit multifamily property in Roswell, Georgia.

The seven-year loan on Park 83 includes three-years of interest only payments followed by 30-year amortization for the remaining term.

ParkThe loan takes out a $60.5m acquisition bridge loan Greystone provided last year.

“As we knew from the beginning, time was of the essence for the bridge loan, which closed quickly, and we were able to execute the best outcome for an exit to Freddie Mac financing,” said Mark Jarrell, head of Greystone’s Portfolio Lending Group.

The Park 83 complex, located north of Atlanta, features one-, two- and three-bedroom units with community amenities including two swimming pools, fitness center, nature trails, tennis courts, volleyball court, dog park, and playground. The property is 96% leased.

Greystone provides mortgage finance solutions across multiple platforms, including FHA, Fannie Mae, Freddie Mac, USDA, CMBS, bridge, mezzanine and other proprietary loan programs.

 

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