Greystone Refinances Detroit-Area Multifamily Property

10/20/17

Greystone Bel Real Estate Advisors Provides Expanded Real Estate Services to Multifamily Owners

Greystone, a real estate lending, investment and advisory company, announced it has provided a $1,800,000 Freddie Mac Small Balance Loan to refinance Huron River Apartments in Wyandotte, MI. The transaction was handled by Cary Belovicz of Greystone Bel Real Estate Advisors and John Marr of Greystone.

Huron River Apartments, comprising 53 market rate units, is located 11 miles south of Detroit. Mr. Belovicz advised the current owner, Epic Property Management, on the asset’s acquisition in 2015.

The Freddie Mac loan provided by Greystone carries a 20-year term with 10-years fixed and 10-years at an adjustable rate over a 30-year amortization.

“We are thrilled to continue expanding our relationship with Epic Property Management through the refinancing of existing portfolio holdings, and being able to provide them with their first Freddie Mac loan,” said Mr. Belovicz. “Having the capability to provide a robust suite of solutions for multifamily property owners enables us to act as a true partner with clients to maximize their holdings, and we greatly value that relationship.” 

About Greystone Bel Real Estate Advisors

Greystone Bel Real Estate Advisors, focuses on providing a full range of multifamily advisory services to clients in the Midwest for both market-rate and affordable housing properties, capitalizing on Greystone’s comprehensive financial platform and Commercial Property Advisors’ multifamily sales expertise in that region. Its Real Estate Advisors team provides services in sales, acquisitions, and a full spectrum of advisory services including debt, equity, acquisition, and investment sales to multifamily, affordable housing and seniors housing owners and investors. For more information, visit www.greystonebel.com and www.greycoadvisors.com.

About Greystone

Greystone is a real estate lending, investment and advisory company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA and Fannie Mae lender in these sectors. Our range of services includes commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge and proprietary loan products. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information, visit www.greyco.com

It's on us. Share your news here.

Submit your stories and articles to citybizlist today.