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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.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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