University Apartments is secured by a new Greystone bridge loan that includes a 30-month term with two six-month extensions. The property was built in several phases between 1938 and 1984 and includes two outdoor swimming pools. Currently, approximately 60% of the property’s tenants are students affiliated with Duke University, located a mile away, and the new owner intends to broaden the tenant mix over time to a more traditional multifamily setting within the community.
