NEW YORK, NY - Greystone, a leading national commercial real estate finance company, has provided a $23,000,000 Commercial Mortgage Backed Security (CMBS) loan to refinance a three-property portfolio of multifamily communities in New Orleans, Louisiana. The financing was originated by Gill Dolan, Managing Director at Greystone.
The multifamily communities are 1970s vintage Class C assets being refinanced after two years of ownership. The CMBS financing carries a ten-year term with full-term interest-only payments.
“CMBS financing offered an ideal outcome for the property owner, who invested in capex for these properties over the past years since their acquisitions and sought to extract some value from the assets while securing a long-term financing solution,” said Mr. Dolan.
About Greystone: 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