ROSWELL, GA-New York City-based Greystone has closed on a bridge loan totaling nearly $61 million for a 664-unit multifamily property here.
Greystone would not divulge any further details on the $60.5-million bridge loan deal, except to say that the loan originated due to ownership consolidation, according to the Atlanta Business Chronicle.
Martin Lanigan, head of Greystone's Portfolio Lending Group, says, "In this instance, time and performance were critical for the borrower. When you are talking about a $60 million deal, not everyone can step up and move in on a transaction of that magnitude."
He adds that Greystone is on track to finance between $50 million to $70 million a month for most of this year. See story in the Atlanta Business Chronicle.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
