{"id":11176,"date":"2024-04-03T11:09:04","date_gmt":"2024-04-03T16:09:04","guid":{"rendered":"https:\/\/1reason.com\/re\/greystone-provides-19-million-in-bridge-financing-for-expansion-of-los-angeles-area-property\/11176\/"},"modified":"2024-04-04T06:09:04","modified_gmt":"2024-04-04T11:09:04","slug":"greystone-provides-19-million-in-bridge-financing-for-expansion-of-los-angeles-area-property","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/greystone-provides-19-million-in-bridge-financing-for-expansion-of-los-angeles-area-property\/11176\/","title":{"rendered":"Greystone Provides $19 Million in Bridge Financing for Expansion of Los Angeles Area Property"},"content":{"rendered":"
Intended to facilitate the refinancing and construction of additional units, the bridge loan was originated by Dale Holzer, Managing Director at Greystone. <\/p>\n

Tower Apartments<\/strong>, located 14 miles southeast of downtown Los Angeles and spread across 1.56 acres, was acquired by the borrower in 2022 and completely renovated with over $3.5 million in capex. The property contains a three-story building with studio, one-, two-, and three-bedroom units and community amenities including a pool and laundry facilities.<\/p>\n

The interest-only bridge financing provided by Greystone carries a two-year term with two, six-month extension options, and is intended to fund the construction of 15 additional units in the building for a total of 133 units.<\/p>\n

\u201cGreystone\u2019s Bridge-to-Agency option can help property investors get a head start on implementing their long-term plans for an asset, providing capital during construction, renovations and stabilization,\u201d said Mr. Holzer.<\/p>\n

About Greystone<\/strong>
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<\/a>.<\/p>\n

PRESS CONTACT:<\/strong>
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com<\/a><\/p>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

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NEW YORK, March 12, 2024 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, has provided $19,050,000 in Bridge-to-Agency financing for a 118-unit multifamily property in Bellflower, California.<\/p>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/11176"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=11176"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/11176\/revisions"}],"predecessor-version":[{"id":11192,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/11176\/revisions\/11192"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=11176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=11176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=11176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}