David LichtensteinNew York-based The Lightstone Group has secured $74.5 million from Freddie Mac to refinance a 16-property portfolio of multifamily properties located throughout Virginia. Greystone arranged the funding, which was dispersed in separate, 10-year term loans for various affordable housing and market-rate rental properties.
Dan Sacks of Greystone's New York office originated the deal.
The portfolio is comprised of 1,768 units serving a cross-section of multifamily housing needs, including student housing, affordable housing, and workforce housing. It is located throughout the I-81 corridor and in southern Virginia.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
