Greystone Provides $36.6M Refi for Vintage Houston Apartments
Greystone provided a $36.6 million Freddie Mac loan to refinance a 476-unit garden-style multifamily community located in Houston, Texas.
Located at 4010 Linkwood Drive, Houston, The Stratford House was developed in 1966.
The property offers renovated apartments and townhomes with one-, two- and three-bedroom layouts. The Freddie Mac loan carries a fixed 5-year term and features full-term interest-only payments. The financing replaces a floating-rate bank loan and enables continued property renovations. Since acquiring the property, the sponsor has undertaken extensive capital improvements, including HVAC, roofing, and electrical upgrades, in addition to interior unit renovations.
The financing was originated by Gill Dolan, Managing Director at Greystone.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout