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Greystone Provides $22.6M Refinance Loan For 262-Unit Multifamily Property In College Station

Property Image
FINANCED
$22,600,000

Texas

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MultiFamily351,018 SF
Financed 09/01/2022
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Property Image
FINANCED

Greystone Provides $22.6M Refinance Loan For 262-Unit Multifamily Property In College Station

21 Gramercy Park Dr

See Similar Deals
MultiFamily351,018 SF
Financed 09/01/2022
the dealplayerscompscontact
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Summary

TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$64
Total Square Footage:351,018 SF
Transaction Type:Loan

The property asset involved in the transaction is located at 21 Gramercy Park Dr., in the market of College Station. It is a multifamily property, comprising 351,018 square feet and encompassing 262 units.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $22,600,000
  • Loan Type: Refinance
  • Lender: Greystone
  • Loan Terms: Fannie Mae - 10-year, full term IO, rate locked in under 2 weeks
  • Landlord: Jamespoint Management
  • Lender's Representatives: Dan Sacks & Harrison Drucker

The key individuals involved in the deal are Dan Sacks and Harrison Drucker, representing the lender Greystone. They facilitated the refinancing of the multifamily property for Jamespoint Management, the landlord of the asset.

Players

Greystone
Greystone
LENDER
M
Management
LANDLORD

Details

FINANCED
IMAGE: Dan Sacks & Harrison Drucker DATE: 09/01/2022 ADDRESS: 21 Gramercy Park Dr. MARKET: College Station ASSET TYPE: Multifamily ~ SF: 351,018 ~ UNITS: 262 LENDER: Greystone - Dan Sacks & Harrison Drucker LANDLORD: Jamespoint Management LOAN AMOUNT: $22,600,000 LOAN TYPE: Refinance LOAN TERMS: Fannie Mae - 10-year, full term IO, rate locked in under 2 weeks

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$22,600,000.00

Monthly NOI$150,666.67
Monthly Debt Service$142,847.37
Change in Cash Flow$0.00
Refinance Proceeds$0.00