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Greystone, BMO Provide $81M Refi on Jurupa Valley Apartments
Greystone provided an $81,129,000 Freddie Mac Optigo loan to refinance Vernola Marketplace Apartments, a 397-unit luxury multifamily property in Jurupa Valley. The financing was originated by Clint Darby and Andrew Remenschneider at Greystone, working in conjunction with BMO Bank.
BMO provided the construction loan on the property and collaborated with Greystone for a permanent exit on behalf of client Bridge Investment Group. The non-recourse, fixed-rate loan was index locked within 24 hours after the Federal Reserve meeting in early November 2023, resulting in an opportunistic rate drop, according to Greystone.
“BMO’s collaboration with Greystone allowed for an ideal execution for our valued customer,” said Kim Liautaud, head of BMO’s U.S. commercial banking real estate group. “The agency loan exit fit our client’s need and our pipeline of opportunities continues to grow with Greystone.”
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- ◦Financing
