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Greystone Provides Acquisition Loan on Ann Arbor Multifamily
Greystone has provided $14,938,000 in bridge financing for the acquisition of a 154-unit multifamily property in Ann Arbor, MI. The transaction was originated by director Reuben Dolny and managing director Jason Yuen on behalf of Cape Sierra Capital.
Constructed in 2002, Lynden Parke Apartments in Washtenaw County consists of a garden-style building featuring studio, one and two-bedroom units. The $14,938,000 interest-only bridge loan from Greystone carries a 24-month term with one 12-month extension option, enabling the borrower to complete the acquisition and fund capital improvements while Greystone works to secure permanent Agency financing as part of its Bridge-to-Agency platform.
“Our comprehensive lending platform and deep multifamily expertise means we can deliver the right financing for our clients through every phase of a project’s lifecycle,” said Dolny. “Greystone’s bridge program is a great fit for those who need a short-term solution while preparing for permanent financing.”
- ◦Financing
