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"This accident got me thinking about how people deal with the disruptive events that pop up from time to time. It s great when we can learn from these disruptions and use them to get better and better as we move forward."
NEW YORK, NY - Greystone, a leading national commercial real estate finance company, has provided a $16,376,000 Fannie Mae Delegated Underwriting and Servicing (DUS®) loan to refinance a 168-unit multifamily community in Pensacola, Florida. The fixed-rate, 12-year loan with six years of interest-only payments and a 30-year amortization schedule was originated by Cullen O’Grady, Managing Director in Greystone’s Rockville, MD office.
The Flats at Ninth Avenue, built in 1971, comprises one- and two-bedroom units across 6.79 acres and was 99% occupied at time of close. Community amenities include a pool, bark park, volleyball court, clubhouse, and business center. The property is located in a desirable submarket of Pensacola, just north of I-10 offering quick access to all areas of Pensacola including the Naval Air Station. Three of Pensacola’s top five employers – the University of West Florida, Baptist Health Centers and West Florida Hospital are all within a mile of the prop
June 3, 2021
The Bluffs project in Cantonment will receive $2.5 million from Florida’s $101.5 billion 2021-2022 budget signed Wednesday by Gov. Ron DeSantis.
Announced in late 2015, The Bluffs was envisioned as the home of up to 60 new industrial and manufacturing companies. The 6,000 acre master-planned development area includes about 1,700 acres of land that can be developed in an area east of Highway 29 bordered by the Escambia River to the east, Becks Lake Road near International Paper to the north, and the University of West Florida to the south.
The $2.5 million in new funding for the state will pay for an entrance drive and upgrades at the multi-leg intersection of Chemstrand Road, Old Chemstrand Road, Emerald Coast Utilities Authority’s entrance drive, and Ascend Performance Materials entrance drives to the plant, and to the land adjacent to the properties. The funds will be used for planning, engineering, design and construction.