NEW YORK, NY - Greystone, a leading national commercial real estate finance company, announced it has arranged a $13.9 million line of credit for the purpose of refinancing a 69-unit build-to-rent (BTR) community in Houston, Texas. The BTR aggregation facility was arranged by Shaya Ackerman, Managing Director, and Steven Treitel, Director, of Greystone.
The newly constructed Sandrock Gardens community in Houston, Texas spans 14.5 acres, appealing to residents seeking affordable living options with convenient access to Downtown Houston. The open-concept homes comprise three bedrooms and two full bathrooms with two-car garages, walk-in closets and laundry facilities.
“This credit facility structure is an ideal financing solution as the developer continues to deliver new units to market, providing continued access to capital,” said Mr. Ackerman. “As a full-service solutions provider, Greystone seeks to solve for our clients’ needs and help prepare them for the next step in execution so they can optimize their real estate portfolio for success.”
About Greystone: Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com