{"id":3763,"date":"2021-08-24T05:55:46","date_gmt":"2021-08-24T10:55:46","guid":{"rendered":"https:\/\/1reason.com\/re\/greystone-provides-41-2-million-in-bridge-financing-for-austin-multifamily-acquisition\/3763\/"},"modified":"2021-08-25T00:55:46","modified_gmt":"2021-08-25T05:55:46","slug":"greystone-provides-41-2-million-in-bridge-financing-for-austin-multifamily-acquisition","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/greystone-provides-41-2-million-in-bridge-financing-for-austin-multifamily-acquisition\/3763\/","title":{"rendered":"Greystone Provides $41.2 Million in Bridge Financing for Austin Multifamily Acquisition"},"content":{"rendered":"
The transaction was originated by Steven Vainer, Director at Greystone on behalf of Lynd Living. <\/p>\n

The property is secured by a Greystone bridge loan that includes a 36-month term with two 1-year extension options, with the intention for permanent take-out financing with Greystone.<\/p>\n

Constructed in 2001, Legends at Lake Creek <\/strong>is a 250-unit value-add apartment complex in the highly affluent Anderson Mill submarket of Austin with a plethora of shopping, employment, and recreational opportunities nearby. Austin is a fast-growing market, ranked as the #1 \u201cHottest US Job Market\u201d by The Wall Street Journal<\/em> in 2020 and #1 \u201cBest State Capital to Live In\u201d by WalletHub in 2021, with Apple\u2019s $1 billion campus under construction less than 3 miles from the property, anticipated to bring 15,000 jobs to the area.<\/p>\n

\u201cAs soon as this asset was under contract, it was clear that the permanent debt solution was going to be an issue with closing on time. Greystone gave us their word they could deliver with an immediate, interim financing-to-permanent capital solution, and they succeeded,\u201d said A. David Lynd, President & CEO, Lynd Living.<\/p>\n

\u201cGreystone\u2019s bridge lending platform offers a variety of permanent exit solutions that are tailored to our clients\u2019 needs. I\u2019m thrilled we were able to assist Lynd Living with this recent acquisition, and for the long-term outcome as well,\u201d said Mr. Vainer.<\/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, Aug. 04, 2021 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, has provided a $41.2 million bridge loan for the acquisition of a multifamily property in Austin, TX.<\/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\/3763"}],"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=3763"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/3763\/revisions"}],"predecessor-version":[{"id":3799,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/3763\/revisions\/3799"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=3763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=3763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=3763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}