NEW YORK, NY - Greystone, a leading national commercial real estate finance company, has provided a total of $15,376,000 in Freddie Mac Optigo® Small Balance Loans (SBL) to refinance seven multifamily communities comprising 187 total units in Jersey City and Newark, New Jersey. The loans were originated by Rob Meehan, Managing Director at Greystone, on behalf of SIG Management.
The financing included:
- A 40-unit building located in Jersey City, New Jersey that received a $3.9 million Freddie Mac SBL loan with a 10-year, fixed-rate term;
- A 19-unit property in Jersey City, New Jersey that received $1.8 million in Freddie Mac SBL financing with a 10-year, fixed-rate term;
- A 26-unit property in Jersey City, New Jersey that received $2.3 million in Freddie Mac SBL financing with a 10-year, fixed-rate term;
- A 13-unit building located in Jersey City, New Jersey that received a $1.4 million Freddie Mac SBL financing with a 10-year, fixed-rate term;
- A 29-unit building located in Jersey City, New Jersey that received $2.9 million in Freddie Mac SBL financing with a 10-year, fixed-rate term;
- A 37-unit building located in Newark, New Jersey that received $2 million in Freddie Mac SBL financing with a 10-year, fixed-rate term; and
- A 23-unit building located in Newark, New Jersey that received a $1.1 million Freddie Mac SBL financing with a 10-year, fixed-rate term.
“We executed all seven loans simultaneously with very favorable terms, and Greystone is fortunate to work alongside such a great team at Freddie Mac to help finance workforce housing in America’s urban centers,” said Mr. Meehan. “Our industry-leading multifamily lending platform means that Greystone clients enjoy seamless execution and competitive terms.”
“We were thrilled to expand our financing to include Freddie Mac with the help of Greystone and are very pleased with the overall outcome, timing, and proceeds for these transactions,” said Mr. Kostas Georgiou, co-Founder and a managing member of SIG Management.
About Greystone: Greystone is a leading 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