Greystone Provides $24.1M for Charlotte Multifamily Refi

Greystone has provided a $24.1 million HUD 223(f) loan to refinance a 216-unit multifamily property in Charlotte, NC. The financing was originated by Lisa M. Fischman, Managing Director at Greystone, on behalf of Pressly Development Company.

Argyle Place Apartments in Hickory has 20 buildings consisting of one-, two- and three-bedroom units constructed in 1987 and 2001, and renovated in 2018. The loan carries a 35-year term and amortization along with a low, fixed rate. In addition to refinancing, loan proceeds enable the borrower to make renovations to the property and fund new construction projects.

“At Greystone, we rise to the challenge of helping clients navigate complex circumstances to secure the right financing for the multifamily properties in their portfolios,” said Ms. Fischman. “Clients choose Greystone for our significant multifamily expertise, our deep lending platform, and our commitment to helping them bring the vision for their properties to life.”