The Capital Services Group of GREA (Global Real Estate Advisors) has announced the closing of a $4 million refinance loan for a 44,250-square-foot garden-style apartment complex with 48 units in the coastal community of Lincoln City, OR.
The transaction was arranged by a GREA Capital Services team that included Senior Directors Matt Swerdlow and Matthew Dzbanek and Director Anthony Priest in the New York City Office. Local advisory was provided by Adam Smith, a Senior Broker in GREA’s Portland Office.
The loan featured a 10-year term with the first five years fixed at a spread of 1.87% over the FHLB of Des Moines, followed by a reset at FHLB of Des Moines plus 2.00% for the remaining five years. The loan includes a 30-year amortization schedule and a no prepayment penalty.
“This transaction is a perfect example of GREA’s collaborative, national platform at work,” Swerdlow said. “By combining our nationwide capital markets expertise with our team’s relationships in the Portland market, we were able to tailor a unique financing solution for our client.”
About GREA
GREA is a full-service national investment sales and capital services platform operating across 12 offices with a 150 person team and generating $14 billion in recent sales. United by a shared mission, the offices maintain the relentless determination of boutique firms while offering our clients national expertise and reach. For more information, visit www.grea.com.
About GREA Capital Services
Based out of the New York City office of GREA partner, Ariel Property Advisors, the dynamic Capital Services Group has a decade of success arranging financing for over 300 commercial assets including multifamily, affordable, mixed-use, retail, office, hospitality and development properties located throughout the country.