NEW YORK CITY, Aug. 21, 2023 (WORLD NEWSWIRE) — Greystone Monticello, a bridge loaning platform working as a one-stop shop supplier of capital financing product or services for the multifamily and senior housing sectors, offered a $60,250,000 swing loan and an $8,000,000 mezzanine loan to re-finance The Irby, a Class-A multifamily property situated in the Buckhead submarket of Atlanta, GA, and owned by an affiliate of Lone Star Funds, a leading personal equity enterprise. The funding was come from by Greystone Commercial Capital, a department at Greystone that concentrates on institutional structured loaning.
Developed in 2020, The Irby is 12 stories high with 277 property systems (studio, 1-bedroom, and 2-bedroom designs), 15,000 square feet of retail, and 132 parking areas. Amenities at the property consist of a resort-style saltwater swimming pool, raised yard with fire pit and barbecuing station, personal cabanas, 24-hour athletic club & yoga studio, complimentary red wine on-tap, sauna, media & recreation room, on-site animal medspa, bike room & repair work station, Peloton bikes, high-rise lookout balcony, 24/7 concierge, a curated art program, and more. A dynamic expert, shopping, and cultural center, Buckhead is a growing intown market in Atlanta experiencing stable population development of 8.7% over the previous 5 years.
“It’s a true testament to the strength of the Greystone Monticello joint venture that the team sprang into action and worked closely to execute this financing to meet the client’s needs,” said Scott Chisholm, head of Greystone Commercial Capital. “Having the bridge financing team so close at hand to work together on large-scale transactions means that our clients have numerous options for financing as they weigh permanent exit options, and this bridge solution was no exception.”
“The Greystone Monticello team is highly skilled and efficient, creating value for our clients every step of the way. This execution shows the true benefits of the Greystone Monticello joint venture,” included Eric Baum, head of the multifamily sales desk at Greystone Monticello.
About Greystone Monticello
The Greystone Monticello joint endeavor supplies a wide variety of bridge funding choices in the multifamily and senior citizens housing markets together with hands-on security possession management to help service our customers. Greystone Monticello supplies customers with remarkable service with breadth and depth of market experience. For more info, see www.greystonemonticello.com.
About Greystone
Greystone is a nationwide industrial realty financing business with a recognized track record as a leader in multifamily and health care financing and a top-ranked FHA, Fannie Mae, and Freddie Mac lending institution in these sectors. Loans are provided through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more info, see www.greystone.com.
PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
[email protected]
