{"id":4760,"date":"2021-12-20T22:06:32","date_gmt":"2021-12-21T04:06:32","guid":{"rendered":"https:\/\/1reason.com\/re\/greystone-provides-8-3-million-in-acquisition-financing-for-colorado-apartment-complex\/4760\/"},"modified":"2021-12-21T16:06:32","modified_gmt":"2021-12-21T22:06:32","slug":"greystone-provides-8-3-million-in-acquisition-financing-for-colorado-apartment-complex","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/greystone-provides-8-3-million-in-acquisition-financing-for-colorado-apartment-complex\/4760\/","title":{"rendered":"Greystone Provides $8.3 Million in Acquisition Financing for Colorado Apartment Complex"},"content":{"rendered":"<div> The transaction was originated by Dale Holzer, Managing Director at Greystone.  <\/p>\n<p>The $8,275,000 non-recourse floating rate bridge loan from Greystone features a 24-month term with one six-month extension and is interest-only. The Reserve Apartments was constructed in 1970, comprises only one-bedroom, one-bath units, and the property as a whole consists of three two-story exterior walk-up buildings and one single-story office\/clubhouse building.<\/p>\n<p>In July 2021, Greystone provided a $26.6 million bridge loan to the same borrower for the acquisition of Parkview Terrace in Thornton, Colorado.<\/p>\n<p>\u201cOur client is a high-quality sponsor that truly cares about the residents in its properties, and they plan to invest significantly in this value-add property,\u201d said Mr. Holzer. \u201cFor that reason, Greystone\u2019s bridge lending solution is a perfect fit for them as they stabilize this asset, and we look forward to ushering them to long-term, permanent financing.\u201d<\/p>\n<p>&#8220;Dale\u2019s guidance has been critical during this time of growth for our portfolio, from Greystone\u2019s broad range of capital solutions to Dale\u2019s personal commitment to client service,&#8221; said Matthew Stevens, principal of the borrower. &#8220;We are grateful for his support in our multifamily investment journey.&#8221;<\/p>\n<p align=\"justify\"><strong>About Greystone<\/strong><br \/>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 <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=S1twAO1TrZ4qkttuXpXmAkcQ2SWH3YNgJRi7irvWX5YiOQdxDgW9zH5l6oZgN38Ll63Z2aPJZH3914gp8Z4KCQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\" title=\"www.greystone.com\">www.greystone.com<\/a>.<\/p>\n<p align=\"justify\"><strong>PRESS CONTACT:<\/strong><br \/>Karen Marotta<br \/>Greystone<br \/>212-896-9149<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=G73VJWqxinFlS192d90liSy0toJP9bNgf2PbzDk6gW2lT8SAUCHM1uLcGRJNSLD9nLbN9WA7JvHgf9YQsrWl5TkNoduZFBWAGR5V5dgbtek=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\" title=\"Karen.Marotta@greyco.com\">Karen.Marotta@greyco.com<\/a><\/p>\n<p><img src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" data-src=\"https:\/\/ml.globenewswire.com\/media\/ZGZjMzYyZDYtN2I3MS00MDVmLThmODctMzRlOGRlNWUwZmM5LTEwMzQ5NDg=\/tiny\/Greystone.png\"><\/div>\n","protected":false},"excerpt":{"rendered":"<div>\n<p align=\"left\">NEW YORK, Nov. 29, 2021 (GLOBE NEWSWIRE) &#8212; Greystone, a leading national commercial real estate finance company, has provided an $8.3 million bridge loan for the acquisition of The Reserve Apartments, an 87-unit multifamily property in Colorado Springs, CO.<\/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\/4760"}],"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=4760"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/4760\/revisions"}],"predecessor-version":[{"id":4772,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/4760\/revisions\/4772"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=4760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=4760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=4760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}