Greystone Provides $34 Million in Acquisition Financing for Buyer
NEW YORK, Aug. 03, 2021 (GLOBE NEWSWIRE) — Greystone Brown Real Estate Advisors announced it has closed the $43,362,000 sale of a multifamily property in Sandy Springs, Georgia. Greystone Brown represented the seller, FPA Multifamily, in the deal. The sale was handled by Chandler Brown, Cory Caroline Sams, Taylor Brown, Walter Miller, Jim Jarrell, and Barden Brown, and a $34,000,000 bridge loan for the transaction was also provided by Greystone to the buyer, 29th Street Capital. The balance sheet financing was originated by Keith Hires, Carter King, and Mark Nelson of Greystone.
Located in Fulton County, ReNew Sandy Springs is situated on Greyfield Lane and is comprised of 219 total units. The multifamily asset features amenities such as a pool, fitness center, and playground.
“We were thrilled to represent the seller in yet another deal,” said Taylor Brown, Director at Greystone Brown Real Estate Advisors. “Clients continue to come back to us when they recognize that our team will work tirelessly on their behalf for the best buying or selling experience.”
“The ideal solution for a buyer is having a financing option available for the acquisition as part of the sales process, and we are excited to have welcomed the buyer into the Greystone family as well,” said Mr. King.
About Greystone Brown Real Estate Advisors
Greystone Brown Real Estate Advisors is a commercial investment brokerage company specializing in the sale of multifamily properties throughout the Southeast. The firm is one of the largest and oldest privately held apartment brokerage firms in the region. Greystone Brown real estate professionals are committed to understanding the objectives of maximizing yields and profits while being able to meet critical time frames. For more information, visit www.brownra.com.