Lending - Freddie Mac - $2.3M
Greystone provided $2,350,000 in Freddie Mac financing for a multifamily community in Holt, MI. The loan was originated by Cary Belovicz, Austin Hull, and John Marr of Greystone.
The 104-unit property, Whispering Pines, received a 10-year fixed-rate Freddie Mac Small Balance Loan for a long-term refinance. The asset is a well-maintained, quiet apartment community situated in a park-like setting 10 miles south of Lansing, MI.
“When the owner was approached with an unsolicited offer for Whispering Pines, we helped determine that a refinance of the asset was in his best interest,” said Mr. Belovicz. “At that point, Greystone was able to provide a variety of long-term finance options to take advantage of the current low-rate environment.”
“Greystone has proven to be a dependable and knowledgeable partner as we continually assess our portfolio,” said Dick Peffley, owner of Whispering Pines. “We are thrilled with the execution of the Freddie Mac financing for Whispering Pines.”