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1000 Fazio Drive

Greystone Provides $56.32M Refinance Loan For Multifamily Property In Pinehurst, NC
FINANCEDMultiFamily

Greystone Provides $56.32M Refinance Loan For Multifamily Property In Pinehurst, NC

$56,321,000

$176/SF

Building Size

318,910 SF

Asset Type

MultiFamily

Closing

Aug 19, 2024

AI

The asset involved in this transaction is a multifamily property located in Pinehurst, NC, comprising 318,910 square feet and consisting of 288 units.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $56,321,000
  • Lender: greystone'>Greystone - Freddie Mac
  • Loan Type: Refinance
  • Loan Terms: 10-year Freddie Mac ($50.07M) + Coterminous Preferred Equity ($6.25M)
  • Notable Execution: Greystone provided a Freddie Mac + Preferred Equity execution to recapitalize an existing bridge loan.
  • Broker Representation: Harrison Drucker, Dan Sacks & Matthew Zisler – Greystone

The key individuals involved in the transaction include brokers Harrison Drucker, Dan Sacks, and Matthew Zisler, representing Greystone in the financing and refinancing arrangement.

Players

Dan Sacks

Greystone

Broker

$695.4M

vol

13 deals

Broker
Greystone
GreystoneBrokerage
Freddie Mac
Freddie MacLender
Greystone
GreystoneLender

Pinehurst MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.28%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93