The Washington, DC-based lender didn't disclose loan terms. "We've been a bit cautious about new condo deals in Atlanta over the past two years, but this one was a diamond in the rough," says CIG vice president Therese Taylor. "The Greystone provides a good value in a great location. Buyers get the luxury of Buckhead living at Cobb County prices."
Condo units will be priced from the mid $500s and will range in size from 1,931 sf to 4,002 sf. Loft-style units will be available on the top level of the building.
Taylor says CIG provided the loan to the Tallahassee, FL owner "as part of a continuing strategy of expanding its business presence in Atlanta." She says CIG is "aggressively pursuing additional opportunities throughout the (Southeast) region." The company targets mezzanine loans from $1 million to $5 million-plus.
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