Dealmaker: Greystone, Cushman & Wakefield Close $63M Transaction in Maryland

Greystone, New York, and Cushman & Wakefield, Chicago, provided acquisition financing for, and arranged the sale, respectively, of a 312-unit multifamily property in Burtonsville, Md.

Burtonsville is a suburb of Washington, D.C., and about 20 miles from Baltimore.

Cushman & Wakefield’s Anthony “TJ” Liberto, Managing Director, and Jorge Rosa, Executive Managing Director, represented the seller in the $62.5 million transaction.

Alex Basile, an Executive Director at both Greystone and Cushman & Wakefield, originated a $40.7 million, seven-year Freddie Mac Optigo loan to finance the acquisition.

The property, called Country Place Apartments, has a number of amenities, including an outdoor pool, fitness center and car care center.

“Country Place was purchased in a very creative structure utilizing a buy-right PILOT afforded to buyers in Montgomery County to maintain affordability for residents. Our sales execution in an everchanging investor landscape shows that attractive debt and pricing is attainable,” Rosa said.