Greystone has provided $43.8 million in Freddie Mac financing for the acquisition of a multifamily portfolio totaling 885 units in Georgia’s Metro Atlanta region. The loans were originated by Greystone’s Keith Hires and Carter King of Greystone’s Atlanta office, on behalf of Fillmore Capital Partners.
The two separate Freddie Mac conventional loans each carry a 10-year term with a fixed interest rate and a 30-year amortization, with interest-only payments for the first 10 years.
Located in Atlanta and Athens, the properties and financing include:
- $22,500,000 for the acquisition of Gardens at Camp Creek, a garden-style apartment community in Atlanta with 385 one-, two- and three-bedroom units. Constructed in 1971, the property features on-site parking, laundry facilities, a business center, fitness center and community gardens.
- $21,300,000 for the acquisition of University Oaks, a garden-style property in Athens offering 500 one-, two- and three-bedroom units. Built in 1965, the community offers residents two pools, a business center, fitness center, outdoor sports courts, dog park and picnic area, as well as on-site laundry facilities and parking.
“We couldn’t be more pleased with our team and how they delivered exactly what we needed to acquire these properties,” said Mr. Dustin Frazier, Senior Vice President, Fillmore Capital Partners. “In a market environment that might challenge others, our Greystone team was unflappable.”
“We are very excited about our acquisition of these two prominent assets in high growth markets, which brings our total portfolio in Georgia to over 2,000 units, with more acquisitions under consideration,” added Mr. Michael Reinardy, Senior Vice President, Fillmore Capital Partners.
“The breadth and depth of our lending platform, coupled with our knowledge of the multifamily space, provides confidence in a smooth execution during a market cycle that’s seen so much volatility in the last year,” said Mr. King.