{"id":12007,"date":"2024-07-11T04:23:29","date_gmt":"2024-07-11T09:23:29","guid":{"rendered":"https:\/\/1reason.com\/re\/greystone-closes-22-9-million-in-total-debt-placement-and-preferred-equity-financing-for-fort-worth-texas-multifamily-property\/12007\/"},"modified":"2024-07-11T23:23:29","modified_gmt":"2024-07-12T04:23:29","slug":"greystone-closes-22-9-million-in-total-debt-placement-and-preferred-equity-financing-for-fort-worth-texas-multifamily-property","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/greystone-closes-22-9-million-in-total-debt-placement-and-preferred-equity-financing-for-fort-worth-texas-multifamily-property\/12007\/","title":{"rendered":"Greystone Closes $22.9 Million in Total Debt Placement and Preferred Equity Financing for Fort Worth, Texas Multifamily Property"},"content":{"rendered":"
The financing, $22.9 million in total, was originated by Lance Wright, Managing Director at Greystone, with Greystone\u2019s Thomas Wayda, Managing Director, and Dante Distefano, Analyst, handling the debt placement and Matthew Zisler, Senior Managing Director, securing the preferred equity on behalf of the client, MBP Capital Partners. <\/p>\n

The Barcelona on Chisolm Trail<\/strong> is a 17-building community spanning over 10 acres of land, and includes community amenities such as a swimming pool, playground, dog park, outdoor lounge areas, business center, fitness center, and clubhouse. The property is located in one of the most retail dense areas of Fort Worth and is within a one-mile radius of 5.2 million square feet of retail space, including the Hulen Mall within walking distance.<\/p>\n

The financing package placed by Greystone includes a $19.5 million 3-year bridge loan provided by a privately held debt fund and $3.35 million in preferred equity from Lubert-Adler Real Estate Funds.<\/p>\n

\u201cIn working through a challenging refinancing strategy for The Barcelona property, we leaned on Greystone to help us find the right solution, and they certainly delivered in solving for our needs,\u201d said Mike Phillips, Chief Executive Officer, MBP Capital Partners. \u201cGreystone has the relationships a borrower needs when a financing request doesn\u2019t fit inside the box.\u201d<\/p>\n

\u201cOur Equity Services platform is a critical component to helping some borrowers get to the closing table, when traditional debt solutions might come up short,\u201d said Mr. Zisler. \u201cOur equity platform collaborators are eager to work with property investors to help navigate today\u2019s higher interest rate environment, which is inhibiting loan proceeds for many.\u201d<\/p>\n

\u201cBy leveraging our extensive network of capital providers, Greystone\u2019s debt placement capabilities can provide alternative financing solutions for achieving property goals, particularly in a high interest rate environment with fewer market participants. Even with a strong foundational business plan, borrowers sometimes need options, which is our mission to provide,\u201d said Mr. Wayda.<\/p>\n

Mr. Wright added, \u201cIt\u2019s gratifying to provide clients with what can sometimes seem like an impossible solution, and I\u2019m thrilled that we were able to collaborate across Greystone\u2019s debt placement and equity services platforms to assemble an attractive financing package for MBP Capital Partners.\u201d<\/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

Securities transactions are processed through INTE Securities LLC dba Greystone INTE BD, member FINRA www.finra.org<\/a> www.sipc.org<\/a>. For information regarding INTE Securities LLC go to www.finra.org\/brokercheck<\/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, June 12, 2024 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, announced it has closed a bridge loan debt placement and preferred equity component to refinance a 248-unit multifamily property located in Fort Worth, Texas.<\/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\/12007"}],"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=12007"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/12007\/revisions"}],"predecessor-version":[{"id":12019,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/12007\/revisions\/12019"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=12007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=12007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=12007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}