Greystone Arranges $33.234 Million Refinance Loan For Sandstone Apartments In Greenwood Indiana

The transaction involves Sandstone Apartments, a multifamily asset located at 1039 Paz Drive North, within the Indianapolis MSA. The property comprises 304 units and has been refinanced for a total amount of $33,234,000. The refinance features a fixed-rate loan with a 35-year amortization period.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $33,234,000
• Loan Type: Refinance
• Loan Terms: 5 years
• Lender: Freddie Mac
• Originators: Richard Kourbage, Gillian McIlroy & Zachary Shabinsky - Greystone
• Address: 1039 Paz Drive North
• Market: Indianapolis MSA
• Units: 304

Greystone orchestrated the refinancing deal, providing cash-out proceeds to the borrower, which enhances the financial position of the property owner. This arrangement was facilitated by the efforts of the originators Richard Kourbage, Gillian McIlroy, and Zachary Shabinsky, who played a pivotal role in securing the loan through Freddie Mac.