Greystone provides $86m in CMBS loans

Real estate lending, investment and advisory firm Greystone has provided $86m in CMBS loans on properties in Atlanta, GA and Avon, CO.

Real estate lending, investment and advisory firm Greystone has provided $86m in CMBS loans on properties in Atlanta, GA and Avon, CO.

A 10-year, $50m loan with 30-year amortization backs the acquisition of a 588-unit, two-property multifamily portfolio in the Atlanta suburbs of Rosemont City View and Dawson Forest. The borrower, InterCapital Partners of Chicago, acquired the property from Wafra Investment.

Screenshot 2015-09-29 at 3.18.39 PM“The fundamentals in Atlanta and its suburbs continue to improve,” said Robert Russell, who originated the loan as head of production for Greystone’s CMBS team. “Despite the recent volatility in the CMBS market, Greystone provided certainty of close and attractive terms to the client.”

A second 10-year, $36m, originated by Greystone’s Ted Nasca, refinances an upscale mixed-use project in the Avon resort community, located at the base of Beaver Creek ski resort. The loan to owner Hoffman Commercial Real Estate is interest-only for the first three years with a 30-year amortization.

The property includes nearly 200,000 sq ft of office and retail space and the loan proceeds refinance two adjoining properties, Chapel Square and Benchmark Shopping Center, which were cross-collateralized as part of the loan’s fixed-rate structure. The property is currently 99.7% leased to 44 tenants.

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

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