Greystone Provides Acquisition Loan on Ann Arbor Multifamily
Greystone has provided $14,938,000 in bridge financing for the acquisition of a 154-unit multifamily property in Ann Arbor, MI. The transaction was originated by director Reuben Dolny and managing director Jason Yuen on behalf of Cape Sierra Capital.
Constructed in 2002, Lynden Parke Apartments in Washtenaw County consists of a garden-style building featuring studio, one and two-bedroom units. The $14,938,000 interest-only bridge loan from Greystone carries a 24-month term with one 12-month extension option, enabling the borrower to complete the acquisition and fund capital improvements while Greystone works to secure permanent Agency financing as part of its Bridge-to-Agency platform.
“Our comprehensive lending platform and deep multifamily expertise means we can deliver the right financing for our clients through every phase of a project’s lifecycle,” said Dolny. “Greystone’s bridge program is a great fit for those who need a short-term solution while preparing for permanent financing.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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