{"id":3708,"date":"2021-08-16T07:22:47","date_gmt":"2021-08-16T12:22:47","guid":{"rendered":"https:\/\/1reason.com\/re\/greystone-provides-20-4-million-in-bridge-financing-for-north-carolina-multifamily-acquisition\/3708\/"},"modified":"2021-08-17T02:22:47","modified_gmt":"2021-08-17T07:22:47","slug":"greystone-provides-20-4-million-in-bridge-financing-for-north-carolina-multifamily-acquisition","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/greystone-provides-20-4-million-in-bridge-financing-for-north-carolina-multifamily-acquisition\/3708\/","title":{"rendered":"Greystone Provides $20.4 Million in Bridge Financing for North Carolina Multifamily Acquisition"},"content":{"rendered":"
The transaction was originated by Dan Sacks, Managing Director at Greystone. <\/p>\n

The property, acquired for $24,500,000, is secured by a Greystone bridge loan that includes a 30-month term with one six-month extension, with the intention for a permanent take-out via Fannie Mae financing with Greystone.<\/p>\n

Brannon Park<\/strong> is a 299-unit property located at 3822 Mizzell Road comprising 13 three-story residential buildings. Amenities include a swimming pool; tennis court; playground; fitness center; and laundry facilities. The property consists of studio, one-, and two-bedroom units, and the new owner intends to invest $1.35 million for renovations of 225 units.<\/p>\n

\u201cWe are thrilled to have helped our repeat client with an acquisition loan in continuing to build their multifamily portfolio,\u201d said Mr. Sacks.<\/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":"

\n

NEW YORK, July 29, 2021 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, has provided a $20,400,000 bridge loan for the acquisition of a multifamily property in Greensboro, North Carolina.<\/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\/3708"}],"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=3708"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/3708\/revisions"}],"predecessor-version":[{"id":3719,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/3708\/revisions\/3719"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=3708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=3708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=3708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}