NEW YORK, Jan. 12, 2021 (GLOBE NEWSWIRE) — gray stone, a leading national commercial real estate finance company, provided $43.8 million in financing to Freddie Mac for the acquisition of a multifamily portfolio totaling 885 units in the Atlanta, Georgia metro area. The loans were originated by Keith Hires of Greystone and Carter King of Greystone’s Atlanta office, on behalf of Fillmore Capital Partners.
Freddie Mac’s two separate conventional loans each carry a 10-year term with a fixed interest rate and 30-year amortization, with interest-only payments for the first 10 years.
Located in Atlanta and Athens, properties and financing include:
- $22,500,000 for the acquisition of Camp Creek Gardens, a garden-style apartment community in Atlanta with 385 one-, two-, and three-bedroom units. Built in 1971, the property features on-site parking, laundry facilities, a business center, fitness center, and community gardens.
- $21,300,000 for the acquisition of University oaks, a garden-style property in Athens offering 500 one-, two-, and three-bedroom units. Built in 1965, the community offers residents two swimming pools, a business center, fitness center, outdoor sports courts, dog park and picnic area, as well as laundry facilities and parking. on the spot.
“We couldn’t be happier with our team and how they delivered exactly what we needed to acquire these properties,” said Dustin Frazier, Senior Vice President, Fillmore Capital Partners. “In a market environment that could challenge others, our Greystone team was unfazed.”
“We are very pleased with our acquisition of these two premier assets in high-growth markets, bringing our total portfolio in Georgia to over 2,000 units, with further acquisitions under consideration,” added Mr. Michael Reinardy, Senior Vice President, Fillmore Capital Partners. .
“The breadth and depth of our lending platform, coupled with our knowledge of the multifamily space, gives us confidence in smooth execution during a market cycle that has seen so much volatility over the past year,” said said Mr. King.
Greystone is a national, privately held commercial real estate finance company with an established reputation as a leader in multifamily and healthcare financing, having been ranked among the top FHA, Fannie Mae and Freddie Mac lenders in these sectors. Loans are offered by Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com.
About Fillmore Capital Partners
Fillmore Capital Partners is a private investment firm primarily focused on multifamily housing, healthcare, entertainment, lodging and other specialty real estate investments. For more information, visit www.fillmorecap.com.