NEW YORK, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, announced it has arranged a $57 million aggregation facility to finance all homes upon completion within the 317-unit Grove Landing build-to-rent community located at 1280 Dunbar Road in Warner Robins, GA, on behalf of Parkland Communities. The transaction was sourced by Avi Kozlowski, Managing Director at Greystone, with Greystone's Thomas Wayda, Managing Director, and Dante DiStefano, Associate, handling the debt placement.
Grove Landing, located 20 miles south of Macon in Houston County, Georgia, is currently 22% complete and is leasing quickly to new residents. The community offers cottage-style single-family home rentals available in 2, 3, and 4 bedrooms with community amenities including a pool, clubhouse, and playground. The credit facility arranged by Greystone, provided by an undisclosed lender, includes a 36-month term.
"Grove Landing is the only single-family build-to-rent community in Houston County and is already yielding positive results serving the influx of new residents filling the 4,400 new jobs coming to area,” said Jim Jacobi, President, Parkland Communities. "Greystone's ability to source the right option for us has been invaluable to our continued success.”
"Greystone is proud to have offered our client a unique capital solution that reflects the quality of our lending partnerships in the build-to-rent space,” said Mr. Wayda. "We look forward to witnessing the borrower's success with this project and others to come. I'd encourage other developers to reach out to our team and learn more about the products and services the debt placement team can offer.”
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.
About Parkland Communities, Inc
Parkland Communities, Inc., the parent company of Parkland Residential, is a privately-owned real estate development and investment firm specializing in multifaceted For-sale and For-rent residential properties. With a wealth of experience spanning over twenty years, Parkland Communities, Inc. utilizes cutting-edge market data, advanced technology, and strong relationships to strategically secure new development opportunities in Atlanta's most sought-after areas. The company's hands-on approach has solidified its position as a proven leader in the industry, earning a trusted reputation among elected officials, municipal staff, neighborhood associations, bankers, and home builders. For more information on Parkland Communities, visit www.Parklandco.com.
PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
