Dealmaker: Greystone Capital Advisors Arranges $166.2M Loan for Long Island Complex  

(Image courtesy of Greystone)

Greystone, New York, provided a $166 million Freddie Mac-backed permanent loan on behalf of TRITEC Real Estate Co. and The Olayan Group to refinance a mixed-use residential, office and retail complex in Ronkonkoma, N.Y.

The 10-year, fixed-rate loan was arranged by Greystone Capitol Advisors and originated by Greystone Servicing Co.

Greystone Capital Advisors, led by Drew Fletcher, Jesse Kopecky and Bryan Grover, served as exclusive adviser to the sponsorship team on the transaction.

Law firm Ballard Spahr, Washington, D.C., provided legal services to Greystone on the transaction. Juan Pereira led the Ballard Spahr team that handled the matter.

The complex is called The Core at Station Yards and was just delivered in September 2024. It has 388 Class A rental units, 83,500 square feet of office and retail space and more than 1,000 parking spots. It’s part of a development adjacent to the Ronkonkoma Long Island Rail Road station.

“The refinancing reflects the strength of the asset and the continued demand for high-quality housing within thoughtfully designed, transit-oriented communities,” said Jimmy Coughlan, executive vice president and partner at TRITEC.