Bob Faith Of Greystar Acquires Development Site In Needham For $40 Million

The transaction involved a development site located at 100 West Street & 110 West Street in Needham, MA. The asset was sold for $40,000,000. Greystar is undertaking a multifamily redevelopment on the long-vacant Carter property, which was a key factor in the acquisition. The company also secured a construction loan amounting to $69.5 million from MUFG to finance this project.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $40,000,000
• Buyer: Bob Faith - Greystar
• Loan Amount: $69.5 million
• Location: Needham, MA

Bob Faith represented Greystar in this transaction, helping facilitate the acquisition of the property and the associated financing. Greystar's commitment to redeveloping the long-vacant site reflects their strategy in the multifamily sector.