Greystone provided a $1 million Freddie Mac small balance loan to refinance Huron River Apartments in Rockwood, MI. The transaction was handled by Cary Belovicz, an executive managing director of Greystone Bel Real Estate Advisors and John Marr, a managing director of Greystone.
The 24-unit Rockwood apartment complex is one of four Huron River communities in Michigan, with the other three located in Wayne, Newport and Wyandotte. The $1 million Freddie Mac small balance loan for Huron River Rockwood carries a 10-year fixed / 10-year ARM term and a 30-year amortization period.
“Greystone is pleased to be able to provide real estate advisory and mortgage financing solutions to Mr. Sterling for the Huron River communities and others, as this marks our second refinancing and third overall transaction with his team,” said Mr. Belovicz.