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Greystone Arranges $30M Bridge Loan for Office Repositioning in Charlotte
National commercial real estate lending, investment and advisory firm Greystone secured a $30.3-million bridge loan to finance the recapitalization and lease-up of 1515 Montford Park, a newly-renovated 10-story, 123,000-square-foot, office building in Charlotte.
The borrower, Grubb Properties, embarked on a floor-by-floor renovation of the property in 2017, which included a revamp of every major building system and transformed the property into a Class A office address in the Montford Park submarket. Located at 1515 Mockingbird Ln., the property sits within a 11-acre office campus.
Drew Fletcher, Paul Fried, Matthew Hirsch, Steven Deck and Cassandra Connolly of Greystone secured the 3.5-year, floating-rate bridge loan on behalf of Grubb Properties. The lender was Timbercreek Asset Management.
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- ◦Financing
