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Freddie Mac Optigo Loan Finances Davie Apartment Deal
Greystone has provided $23,479,000 in Freddie Mac Optigo financing for the acquisition of Vue on 67th, a 178-unit multifamily property in Davie, FL. The transaction was originated by Richard Kourbage, managing director in Greystone’s New York office, on behalf of Circle Capital Partners and LRE Management.
Originally built in 1978 and upgraded by the prior owner, Vue on 67th is a garden-style apartment community that sits on 7.7 acres. It offers one- and two-bedroom units and amenities including a clubhouse with billiards room, fitness center, resort-style pool, outdoor barbeque deck, and on-site parking.
“Vue on 67th was a complicated transaction to finance,” said Todd Linden and Richard Valdes, principals of Circle Capital Partners. “The property’s performance significantly improved every month leading up to closing, and Richard Kourbage and his Greystone team worked closely with Freddie Mac to quantify a meaningful increase in proceeds. ”
- ◦Sale/Acquisition
- ◦Financing
