Greystone has provided a $31,490,000 bridge loan to refinance a 292-unit multifamily property in Ridgeland, Mississippi. The financing was originated by Greystone’s Stella Plotkin and Avi Lifshitz.
Constructed in 1985 and located in Madison County, Van Mark Apartments consists of 52 garden-style buildings with one-, two-, and three-bedroom units. Residents enjoy amenities such as a clubhouse, community room, fitness center, swimming pool, playground, sports courts, and on-site laundry facilities. Greystone’s $31,490,000 interest-only bridge loan carries a 24-month term with two six-month extension options, enabling the borrower to refinance their existing loan and fund capital improvements.
“We’re thrilled that our bridge platform helps clients realize their vision for this property while seeking more permanent financing,” said Mr. Lifshitz. “We work tirelessly and quickly in every market and economic cycle to deliver creative solutions that work for our clients and are more attractive than competitor offerings.”