SOURCE: Mortgage News Feed
Greystone, a leading national provider of multifamily and healthcare mortgage loans, today announced it provided a $5.9 million bridge loan for a 168-unit multifamily property in Colorado Springs, CO. The transaction was originated by Dale Holzer, Director and mortgage originator at the firm. The non-recourse, interest-only bridge loan included $4.4 million in financing at close with the remaining $1.5 million to be future funded for property improvements. The fully funded loan amount is 78% of total costs, which carries a two-year term with two six-month extensions.
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