Greystone Provides $56.32M Refinance Loan For Multifamily Property In Pinehurst, NC
FINANCED
$56,321,000
North Carolina
See Similar DealsMultiFamily318,910 SF
Financed 08/19/2024
FINANCED
Greystone Provides $56.32M Refinance Loan For Multifamily Property In Pinehurst, NC
MultiFamily318,910 SF
Financed 08/19/2024
Summary
NORTH CAROLINA
Asset Type:MultiFamily
Price Per Square Foot:$176
Total Square Footage:318,910 SF
Transaction Type:Loan
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
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LENDER
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$56,321,000.00
Monthly NOI$375,473.33
Monthly Debt Service$355,987.03
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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