NEW YORK, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, has provided a $26,109,000 Freddie Mac loan to refinance a 180-unit multifamily property in Myrtle Beach, South Carolina. The financing was originated by Avi Kozlowski, Managing Director at Greystone, on behalf of Eskay Management, a repeat client.
Originally constructed in 1998, Reserve at Ridgewood in Horry County is a garden-style apartment community featuring two- and three-bedroom units set across 15 residential buildings. The property's amenities include a clubhouse, swimming pool, fitness center, laundry facilities, dog park, storage units, playground, grill and picnic area. The $26,109,000 non-recourse, fixed-rate loan features a five-year term and 30-amortization, with interest-only payments for the first two years of the term.
"We're thrilled when clients come back to Greystone for multiple properties in their portfolios - there is no greater show of trust in our process, platform and multifamily expertise,” said Mr. Kozlowski. "We are committed to achieving the best outcomes for our clients, and work to deliver exceptional solutions seamlessly and quickly every time.”
"Our Greystone team understands our vision for the multifamily properties in our portfolio and they're determined to ensure we achieve it, every time,” said Mr. Yehuda Shechter, principal of the borrower. "The depth of their market and product knowledge is unparalleled, which is why we consider them as a true partner and collaborator on our transactions.”
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.
PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
