Greystone has provided a $46,000,000 Freddie Mac loan to refinance Madbury Commons, a student housing community located in Durham, New Hampshire. The financing was originated by Eric Rosenstock, Jesse Yodice and Yarin Amzalag, at Greystone.
The $46,000,000 fixed-rate financing carries a 10-year term and amortization, with full-term interest only payments.
Located in Strafford County, Madbury Commons is walking distance from the University of New Hampshire and downtown Durham. The student housing complex consists of 524 beds across 126 fully furnished residential units, with 45,000 square feet of commercial space on the ground level. The community offers modern student amenities, including a fitness center, and its prime location enhances walkability and access to campus.
“Greystone is committed to executing on transactions that enable our clients to provide quality housing in markets with extremely high demand—as is the case with student housing in many college towns across the country,” said Mr. Yodice. “Our comprehensive multifamily lending platform allowed us to structure a solution through Freddie Mac at terms that reflect both the strength of the sponsorship and the performance of this unique property.”