Greystone has provided a $49,575,000 Freddie Mac Optigo loan for the acquisition of a 484-unit apartment community in Pine Hill, New Jersey.
The transaction was originated by Dan Sacks, Managing Director in Greystone’s New York office, on behalf of Goldcrest Management.
DAN SACHS
The $50 million Freddie Mac loan features an adjustable rate with a 10-year term and 30-year amortization, with the first five years of interest-only payments. Built in 1973, Chalet Gardens is a garden-style complex consisting of one- and two-bedroom units that offer modern finishes and appliances, eat-in kitchens, in-unit washer/dryers and private outdoor living spaces. Residents have access to the community’s fitness center, pool and sundeck, picnic area, playground, and parking. The property is close to the area’s dining, shopping, and recreation options, and is a short drive to Center City Philadelphia and New Jersey beaches.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Greystone Provides $37.5 Million in Fannie Mae DUS® Financing for Multifamily Properties in .
GreystoneFebruary 1, 2021 GMT
NEW YORK, Feb. 01, 2021 (GLOBE NEWSWIRE) Greystone, a leading national commercial real estate finance company, has provided $37,511,000 in Fannie Mae Delegated Underwriting and Servicing (DUS®) loans for the acquisition of three multifamily properties totaling 272 units in Delaware and New Jersey. The transactions were originated by Dan Sacks, Managing Director in Greystone’s New York office, on behalf of long-time client, Goldcrest Management. Jack Miller of Platinum Capital Group acted as correspondent on the transaction.