Greystone Provides $19M Acquisition Loan for Metro New Haven MF Portfolio
Commercial real estate finance company Greystone has provided a total of $18.6 million in Fannie Mae Delegated Underwriting and Servicing loans for the acquisition of a two-property multifamily portfolio consisting of 177 units in Metro New Haven, CONN.
The properties include 511 Main Apartment Homes in West Haven, a 57-unit multifamily property built in 1926 as an armory and Hemingway Place in East Haven, a garden-style community built in 1962. Both properties are nearby downtown New Haven as well as Yale University.
Dan Sacks of Greystone secured the two loans on behalf of borrower CSRE Group. The first loan, for $5,300,000, carries a 10-year term and 30-year amortization, with the first five years of interest-only payments for 511 Main Apartment Homes. The second loan, for $13,280,000, has a 30-year amortization and features a 12-year term with the first six years of interest-only payments for Hemingway Place.
For comments, questions or concerns, please contact David Cohen