Greystone, a leading national commercial real estate finance company, announced it has arranged a $33.7 million debt placement to refinance a portfolio of seniors communities in the Pacific Northwest. The transaction was sourced by David Young, a Managing Director at Greystone on behalf of a regional owner of affordable-focused senior housing communities.
There were four properties total across two states. Each community has a specific Medicaid contract with the state serving assisted living and memory care residents. The financing was provided by a debt fund meeting the borrower’s expectations on proceeds.
“With recent Medicaid rate increases and capital expenditures completed on the communities, we were seeking to maximize proceeds for this debt request. We sourced a fitting lender after an extensive process working with banks, credit unions and unlevered, A/B tranched, and back-levered debt funds,” said Mr. Young. “Greystone works to exceed our clients’ expectations and deliver solutions that can solve unique challenges.”
Greystone, a leading national commercial real estate finance company, has provided a $21,000,000 bridge loan for a multifamily property in West Valley City, Utah. The financing was originated by Lorie Hanson, Managing Director at Greystone, on behalf of Rich Day Group (RDG).
Recently constructed and located just outside of Salt Lake City, Erin Hills Estates is a 61-unit luxury townhome-style rental community. The pet-friendly property’s amenities include a park and future pickle ball courts, with meticulous landscaping and sweeping views of the Wasatch Front.
“It was a pleasure to help our client really bring Erin Hills to completion for lease-up and stabilization with this bridge loan,” said Ms. Hanson. “We are dedicated to delivering outstanding results for our clients, providing seamless and swift solutions with excellence every time.”
“The success of Erin Hills is a direct result of Greystone’s participation and guidance on this transaction,” said Rich Day of RDG.
Greystone and Cushman & Wakefield jointly announced they provided acquisition financing for, and arranged the sale of, respectively, Aventine, previously known as Ardmore at Bryton, a 288-unit multifamily property in the Charlotte suburb of Huntersville, North Carolina.
The multifamily property was sold by Ardmore Residential, Inc. to buyer Claremont Companies, a family office based in Massachusetts. Aventine becomes Claremont’s second acquisition in the Charlotte MSA in the past 12 months, adding to its most recent acquisition of Giddy Hall, a 171-unit property located in the Steele Creek submarket, which closed in December of 2023. The acquisition of Aventine helps contribute to the recently initiated diversification strategy of Claremont’s portfolio to strengthen the firm’s overall portfolio of assets, with Charlotte playing a key contributing role. Claremont now owns nearly 460 total units in the Charlotte MSA and plans to continue growing its portfolio in the market in the years ahead.
Cushman & Wakefield’s Alex McDermott, Louis Smart, Paul Marley, John Phoenix, Richard Montana, and Jacquelyn Aaron represented the seller in the $72,950,000 million transaction. Alex Basile, an Executive Director at both Greystone and Cushman & Wakefield, along with Michael Zelin and Drew Barnette of Cushman Wakefield’s Equity, Debt and Structured Finance team originated a $41.4 million Freddie Mac loan to finance the acquisition.
“Aventine is an attractive newly built community that is well-positioned in the Huntersville market and has benefited from an incredibly strong lease-up. Huntersville and the other northern Charlotte suburbs have become the darlings of the real estate investment community due to their strong school systems and resident demographics, exceptional connectivity via our interstate system, and high barriers to entry to new development. Our team looks forward to seeing this asset continue to thrive under the new ownership. Congratulations to all parties involved,” said McDermott, Executive Managing Director at Cushman & Wakefield.
Aventine is located at 13035 Ardmore Forest Rd. and features outsized floor plans along with an elite fitness center, car care center, clubhouse with a resident lounge, complimentary Starbucks bar, pet spa and park, and a resort-style swimming pool. The multifamily community also benefits from its positioning within Huntersville, which is one of Charlotte’ most sought-after pockets for real estate investment, and is strategically located alongside the I-485 and I-77 interchange and only 15 minutes from job hubs in Uptown and University City.
"Aventine represents an exceptional investment opportunity in a market characterized by strong demand and limited supply, and we are thrilled to have provided the best financing solution for the buyer," said Alex Basile, Executive Director at both Greystone and Cushman & Wakefield. "This transaction showcases the strength of our integrated platform, seamlessly aligning financing and investment sales to deliver outstanding results for our clients. We’re proud to have been part of this collaboration and look forward to seeing the continued success of this property under its new ownership.”
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group is a 100-person investment sales team covering 15 states with No. 1 multifamily market share in that region based on sales volume and transactions reported to CoStar. Per Cushman & Wakefield, in 2024, the group has closed $4.3 billion in sales volume through 151 deals and 25,000 units. For more information about the Sunbelt Multifamily Advisory Group, visit https://multifamily.cushwake.com.
Greystone, a leading national commercial real estate finance company, has provided a $26,109,000 Freddie Mac loan to refinance a 180-unit multifamily property in Myrtle Beach, South Carolina. The financing was originated by Avi Kozlowski, Managing Director at Greystone, on behalf of Eskay Management, a repeat client.
Originally constructed in 1998, Reserve at Ridgewood in Horry County is a garden-style apartment community featuring two- and three-bedroom units set across 15 residential buildings. The property’s amenities include a clubhouse, swimming pool, fitness center, laundry facilities, dog park, storage units, playground, grill and picnic area. The $26,109,000 non-recourse, fixed-rate loan features a five-year term and 30-amortization, with interest-only payments for the first two years of the term.
“We’re thrilled when clients come back to Greystone for multiple properties in their portfolios – there is no greater show of trust in our process, platform and multifamily expertise,” said Mr. Kozlowski. “We are committed to achieving the best outcomes for our clients, and work to deliver exceptional solutions seamlessly and quickly every time.”
“Our Greystone team understands our vision for the multifamily properties in our portfolio and they’re determine to ensure we achieve it, every time,” said Mr. Yehuda Shechter, principal of the borrower. “The depth of their market and product knowledge is unparalleled, which is why we consider them as a true partner and collaborator on our transactions.”
Greystone, a leading national commercial real estate finance company, has provided a $12,985,600 HUD-insured 207/223(f) loan to refinance an affordable housing property in Hartford, CT. The financing was originated by Eric Rosenstock, Jesse Yodice, and Daniel Daskal of Greystone.
Tuscan Brotherhood Homes I & II is a 170-unit rent-restricted community spread over 12 buildings and comprised of studio, one-, and two-bedroom units. Built in 1976 as affordable housing, 99% of the units today are set aside for income-qualified residents and subsidized with project-based rental assistance. The HUD-insured financing carries a 35-year term.
“HUD-insured multifamily financing is an attractive solution for affordable housing sponsors because it enables a long mortgage term and a lower interest rate than typical bank financing,” said Mr. Yodice. “We are thrilled to have been recently re-affirmed as the leading HUD lender for multifamily housing*, and are truly gratified when clients return to us to help optimize their portfolio assets.”
Greystone, a leading national commercial real estate finance company, announced it has arranged a $14 million debt placement for the refinancing of a newly-constructed build-to-rent community in Tucson, Arizona. The transaction was sourced by Shana Daby, Managing Director and Rebecca Reich, Associate, at Greystone, with Greystone’s Thomas Wayda, Managing Director, and Dante DiStefano, Associate, handling the debt placement.
Linda Vista Luxury Rentals is a 64-unit build-to-rent community completed in 2024 currently in active lease-up. The mountain view property offers residents amenities including a pool and spa/hot tub. The financing arranged by Greystone was provided by an undisclosed lender and includes a 36-month term.
“Greystone’s debt placement team strives to help borrowers navigate the current capital markets and source the best solution for whatever financing needs they may have. We have fostered competitive lending partnerships which have proven to be an invaluable resource for our clients. The BTR space is an asset class that we continue to find this success,” said Mr. Wayda.
Ms. Daby added, “We are so thrilled to have helped our client refinance this quality asset, which is providing much-needed housing options in the Tucson market.”
