Greystone Provides $13.65M Bridge Loan For Multifamily Property On Apalachee Pkwy In Tallahassee, FL

Located at 2959 Apalachee Parkway in Tallahassee, Florida, this multifamily property consists of 168 units. The transaction took place on September 22, 2021. Pax Properties LLC, represented by Justin Ford, served as the landlord in this closed deal. The loan for this transaction was provided by greystone''>Greystone, with Kyle Jemtrud acting as the lender's representative. The loan amount totaled $13,650,000, and it was structured as a bridge loan with a floating rate and interest-only-bridge financing.

Summary of transaction details:

• Property Type: Multifamily
• Units: 168
• Address: 2959 Apalachee Parkway, Tallahassee, FL
• Market: Tallahassee, FL
• Loan Amount: $13,650,000
• Loan Type: Bridge loan
• Loan Terms: Floating rate, interest only-bridge financing
• Lender: Greystone
• Lender's Representative: Kyle Jemtrud
• Landlord: Pax Properties LLC
• Landlord's Representative: Justin Ford

This loan provided by Greystone features a 24-month term with two six-month extension options. The intended purpose of the loan is to transition to permanent HUD-insured financing. The deal was facilitated by Kyle Jemtrud, representing Greystone, and Justin Ford, representing Pax Properties LLC.