Greystone Originates Bridge Loans for Two Senior Apartment Communities

Published April 29, 2013, 4:02 p.m. EDT

1 Min Read

Greystone has provided a total of $28 million in bridge loan financing to United Group of Cos. Inc. for two market rate senior apartment communities located in New York and Georgia.

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The loans were originated by Donny Rosenberg, a managing director in Greystone’s multifamily lending group, in conjunction with Steve Germano, managing director of Greystone’s portfolio lending group.

The loan proceeds were used to refinance existing debt and Greystone will work with United Group to provide long-term financing prior to the maturity of the bridge loan.

Schulyler Commons in New York and The Lodge at BridgeMill in Georgia received $28 million of loan proceeds through Greystone’s bridge loan program.

“The United Group had a beneficial experience working with Greystone to close a complicated financial restructuring,” said Michael Uccellini, president and CEO of United Group, in a press release.

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