Cushman & Wakefield and Greystone Close Sale and Financing of Two Maryland Multifamily Properties
NEW YORK, July 26, 2024 (GLOBE NEWSWIRE) -- 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 Greystone
Greystone 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 & Wakefield
Cushman & 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 Marotta
Greystone
212-896-9149
[email protected]
