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Greystone, Cushman & Wakefield, Close Sale, Financing of Maryland MF Properties
Greystone and Cushman & Wakefield jointly announced they provided acquisition financing for, and arranged the sale of, respectively, a 344-unit two-property multifamily portfolio in Maryland.
The Fannie Mae Delegated Underwriting & Servicing loans were originated by Dan Sacks, Senior Managing Director, and Alex Basile, Executive Director, of Greystone, on behalf of Olivetree Management. Jorge Rosa and Anthony Liberto advised on the sale of the properties for Cushman & Wakefield.
The properties were acquired for approximately $73.5 million and financed with Fannie Mae loans totaling $57 million. The communities, Columbia Apartments and Town Center Apartments, boast 94% occupancy in the high-growth Columbia suburb of Baltimore, Maryland.
“This transaction represents a true collaboration for our teams, culminating in a repeat client of ours acquiring the properties and Greystone being able to provide the acquisition financing with Cushman & Wakefield advising on the sale,” said Mr. Sacks.
