Dealmaker: Greystone Closes $22.9M Transaction for Texas Multifamily Property

(Image courtesy of Greystone)

Greystone, New York, closed a bridge loan debt placement and preferred equity component to refinance a multifamily property in Fort Worth, Texas. The financing totaled $22.9 million.

It was originated by Lance Wright, Managing Director at Greystone, with Greystone’s Thomas Wayda, Managing Director, and Dante Distefano, Analyst, handling the debt placement and Matthew Zisler, Senior Managing Director, securing the preferred equity on behalf of the client, MBP Capital Partners.

The financing package included a $19.5 million 3-year bridge loan provided by a privately held debt fund and $3.35 million in preferred equity from Lubert-Adler Real Estate Funds.

The property, with 248 units, is called The Barcelona on Chisolm Trail. It includes 17 buildings and a number of amenities and features.