Greystone announced it has provided a $7,950,000 Freddie Mac Green Advantage® loan to refinance a 92-unit multifamily property in Las Vegas, Nevada. The transaction was originated by Ana Ramos, Managing Director in Greystone’s Los Angeles office with Andy Bratt of Newmark Realty Capital acting as correspondent.
The $8 million fixed-rate loan carries a 10-year term with three years of interest-only payments and a 30-year amortization period. The property, Nottingham Gardens, is a garden-style apartment and townhome community built in 1974. Since its acquisition in 2015, the current owner has invested in many capital improvements, both interior and exterior.
“The Freddie Mac Green Advantage® program is an ideal financing solution for properties that can incorporate energy-efficient measures with both electricity and water use,” said Ms. Ramos. “The combined benefits of this program yield not only a more efficient building, but also more attractive loan terms for going green. This platform is a win-win for any real estate investor.”
“Greystone’s execution of this loan was superb, from the terms to the communication and transparency from Ana and her team,” said Sarla Gupta, property owner of Nottingham Gardens. “We are so thrilled with the outcome and look forward to working with Greystone on future transactions.”