Cushman & Wakefield and Greystone Close Sale and Financing of Two Maryland Multifamily Properties
July 26 2024 - 11:49AM
Greystone, a leading national commercial real estate finance
company, and Cushman & Wakefield, a leading global real estate
services firm, jointly announced they provided acquisition
financing for, and arranged the sale of, respectively, a 344-unit
two-property multifamily portfolio in Maryland.
The Fannie Mae Delegated Underwriting & Servicing (DUS®)
loans were originated by Dan Sacks, Senior Managing Director, and
Alex Basile, Executive Director, of Greystone on behalf of
Olivetree Management, with Jorge Rosa and Anthony (TJ) Liberto
advising on the sale of the properties for Cushman &
Wakefield.
The properties were acquired for approximately $73.5 million
total and financed with Fannie Mae loans totaling $57 million. The
communities, Columbia Apartments and Town
Center Apartments, boast 94% occupancy in the high growth,
highly desirable Columbia suburb of Baltimore, Maryland.
“This transaction represents a true collaboration for our teams,
culminating in a repeat client of ours acquiring the properties and
Greystone being able to provide the acquisition financing with
Cushman & Wakefield advising on the sale,” said Mr. Sacks. “In
today’s market, with high volatility, it’s gratifying to provide a
smooth execution for our client and to have the success of our
joint venture with Cushman & Wakefield validated.”
About GreystoneGreystone is a
private national commercial real estate finance company with an
established reputation as a leader in multifamily and healthcare
finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac
lender in these sectors. Loans are offered through Greystone
Servicing Company LLC, Greystone Funding Company LLC and/or other
Greystone affiliates. For more information, visit
www.greystone.com.
About Cushman & WakefieldCushman &
Wakefield (NYSE: CWK) is a leading global commercial real estate
services firm for property owners and occupiers with approximately
52,000 employees in nearly 400 offices and 60 countries. In 2023,
the firm reported revenue of $9.5 billion across its core services
of property, facilities and project management, leasing, capital
markets, and valuation and other services. It also receives
numerous industry and business accolades for its award-winning
culture and commitment to Diversity, Equity and Inclusion (DEI),
sustainability and more. For additional information, visit
www.cushmanwakefield.com.
PRESS CONTACT:Karen
MarottaGreystone212-896-9149Karen.Marotta@greyco.com
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