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Greystone Supports Refi of Florida Multifamily Property With $58.65MM Loan

November 13, 2020, 07:00 AM
Filed Under: Real Estate
Related: Greystone

Greystone provided a $58,653,000 Freddie Mac loan to refinance a 306-unit multifamily property in Naples, Florida. The transaction was originated by Dan Sacks, Managing Director in Greystone’s New York office, on behalf of The Embassy Group.  

The $58.65 million Freddie Mac floating rate loan, which refinances an existing Fannie Mae loan provided by Greystone to acquire the property in 2017, carries a 10-year term with a 30-year amortization and five years of interest-only payments.

Originally constructed in 2007, Amberton Townhomes consists of 306 two- and three-bedroom units in 39 two- and three-story buildings set across professionally landscaped grounds. Each townhome features in-unit laundry and modern appliances as well as attached, private garages and outdoor living space. Residents have access to the gated community’s clubhouse, pool and fitness center. The pet-friendly property offers easy access to Interstate 75, and is centrally located near the area’s dining, entertainment, beach and shopping venues.

“Our focus is on finding ‘just-right’ financing solutions so our clients can have the best financing behind the properties in their portfolios through every iteration of the market,” said Mr. Sacks. “Our clients come back to us because our white-glove service experience means we’ll deliver the transaction terms they need, every time.”

“After working with our Greystone team to acquire this property a few years ago, there was never a question whether we would come back to them,” said Mr. David Willner, principal, The Embassy Group. “Whether we’re talking about securing the right financing or handling a transaction from start to finish, Dan and his team are simply the best at exceeding our expectations on every level.”

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