Greystone Provides $46 Million in Bridge Financing for 310-unit Apartment Complex in Pennsylvania
November 2, 2015
Greystone Arranges Preferred Equity for Acquisition of Marquis Property to Liss Property Group Portfolio
Greystone announced it has provided a $46,000,000 bridge loan for the acquisition of Riverview Landing at Valley Forge in Eagleville, PA. The loan was originated by Nathan Schuss of Greystone on behalf of Liss Property Group.
Greystone presented the financing opportunity with an introduction to a joint venture equity partner, Azure Investments, which enabled Liss Property Group to acquire the 310-unit multifamily property. Riverview Landing at Valley Forge, a marquis addition to the company’s portfolio, is a luxury rental complex along the Schuykill River in Pennsylvania offering residents a resort-style pool and clubhouse, fitness center, and business center, among other amenities.
“Greystone’s well-structured and competitively priced bridge program along with access to equity providers served a key role in helping Liss Property Group acquire this high quality asset,” said Mark Jarrell, Executive Vice President at Greystone.
Billy Liss, founder and CEO of Liss Property Group, added, “We’re excited to add this generational asset into our family’s portfolio. It has all the attributes of a winning asset providing first-rate housing with the opportunity to increase value over time by adding other luxury and amenities for the residents. We feel so grateful to have acquired this Class A asset with true Class A partners in Greystone and Azure Investments.”