Greystone provided $32,500,000 in total bridge financing ($23 million at closing and $9,500,000 in future funding) for the refinancing of The Vue on Stadium Drive Apartments in Fayetteville, Arkansas. The financing enables the owner to complete $19 million in renovations, with the intention that the short-term financing will be taken out with a permanent Agency loan.
Located near the University of Arkansas, The Vue on Stadium Drive comprises seven multifamily building with 180 apartments. Built as student housing, the property includes mainly 1:1 bed / bath parity.