NEW YORK, Aug. 24, 2020 (GLOBE NEWSWIRE) -- Greystone Brown Real Estate Advisors announced it has closed the $27 million sale of a 230-unit multifamily property in Atlanta, Georgia, and Greystone provided a $21.6 million Freddie Mac Conventional loan to finance the transaction. The sale was handled by Walter Miller, Barden Brown, Cory Caroline Sams, and Jim Jarrell of Greystone Brown Real Estate Advisors.
Built in 2004, Overlook Ridge offers 230 well-appointed, 1-, 2- and 3-bedroom apartments averaging 1,090 square feet. Residents of the community enjoy amenities such as a clubhouse and fitness and business center, laundry facility, as well as outdoor recreational facilities such as a resort style swimming pool. The property is conveniently located less than 10 minutes from Downtown Atlanta near The West End, walkable to a Beltline spur, MARTA, and proximate to new craft breweries and distilleries.
“The Greystone team’s expertise on the local market and market-rate conversion properties such as this were critical to the success of the transactions,” said Mr. Miller. “On top of that, Greystone was able to provide end-to-end service and secure financing for the acquiring party, making the process seamless for all involved.”
About Greystone Brown Real Estate Advisors
Greystone Brown Real Estate Advisors is a commercial investment brokerage company specializing in the sale of multifamily and retail properties throughout the Southeast. The firm is one of the largest and oldest privately held apartment brokerage firms in the region. Greystone Brown real estate professionals are committed to understanding the objectives of maximizing yields and profits while being able to meet critical time frames. For more information, visit www.brownra.com.
About Greystone
Greystone is a 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. Our range of services includes commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge and proprietary loan products. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com.
PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com