Greystone Provides $15.4 Million in Freddie Mac Financing for Multifamily Portfolio in Urban New Jersey

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Greystone has provided a total of $15,376,000 in Freddie Mac Optigo® Small Balance Loans (SBL) to refinance seven multifamily communities comprising 187 total units in Jersey City and Newark, New Jersey. The loans were originated by Robert Meehan, Managing Director at Greystone, on behalf of SIG MANAGEMENT LLC.

The financing included:

  • A 40-unit building located in Jersey City, New Jersey that received a $3.9 million Freddie Mac SBL loan with a 10-year, fixed-rate term; 
  • A 19-unit property in Jersey City, New Jersey that received $1.8 million in Freddie Mac SBL financing with a 10-year, fixed-rate term;
  • A 26-unit property in Jersey City, New Jersey that received $2.3 million in Freddie Mac SBL financing with a 10-year, fixed-rate term;
  • A 13-unit building located in Jersey City, New Jersey that received a $1.4 million Freddie Mac SBL financing with a 10-year, fixed-rate term;
  • A 29-unit building located in Jersey City, New Jersey that received $2.9 million in Freddie Mac SBL financing with a 10-year, fixed-rate term;
  • A 37-unit building located in Newark, New Jersey that received $2 million in Freddie Mac SBL financing with a 10-year, fixed-rate term; and
  • A 23-unit building located in Newark, New Jersey that received a $1.1 million Freddie Mac SBL financing with a 10-year, fixed-rate term.

“We executed all seven loans simultaneously with very favorable terms, and Greystone is fortunate to work alongside such a great team at Freddie Mac to help finance workforce housing in America’s urban centers,” said Mr. Meehan. “Our industry-leading multifamily lending platform means that Greystone clients enjoy seamless execution and competitive terms.”

“We were thrilled to expand our financing to include Freddie Mac with the help of Greystone and are very pleased with the overall outcome, timing, and proceeds for these transactions,” said Mr. Kostas Georgiou, co-Founder and a managing member of SIG MANAGEMENT, LLC.

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