The floating-rate, interest-only bridge loan features a three-year initial term with extension options and is cross-collateralized across the portfolio. The financing refinances existing debt on the recently delivered communities, which include:
- Vantage at Hutto – 288 units at 1051 N. Farm to Market 1660, Hutto, Texas (Austin MSA), completed in 2023
- Vantage at McKinney Falls – 288 units at 7900 McKinney Falls Parkway, Austin, Texas, completed in 2024
- Vantage at Fair Oaks – 288 units at 9135 Dietz Elkhorn Road, Boerne, Texas (San Antonio MSA), completed in 2023
Together, the portfolio comprises 864 units across three low-rise Class A communities featuring institutional-quality amenities including clubhouses, fitness centers, resort-style swimming pools, and modern apartment finishes. The assets are strategically located in high-growth submarkets within the Austin and San Antonio MSAs.
“We were pleased to structure a financing solution that met our clients’ objectives while leveraging the strength of this high-quality, recently delivered portfolio,” said Drew Fletcher, President of Greystone Capital Advisors. “Benefit Street Partners recognized the quality of the sponsorship, the assets, and the long-term fundamentals supporting these dynamic Central Texas markets. This bridge execution provides the flexibility needed as the portfolio continues its path toward full stabilization.”
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.
PRESS CONTACT:
Fran Del Valle
fran@influencecentral.com
