Drew Fletcher, Greystone Capital Advisors president
NEW YORK CITY—The joint venture of Rose Associates and Benenson Capital Partners refinanced Hoyt & Horn, their new 26-story rental tower at 210 Livingston St. in Downtown Brooklyn for $179 million. The 386-unit building is a mixed-income, multifamily residential complex.
Greystone Capital Advisors negotiated the 15-year, fixed-rate loan provided by Wells Fargo Multifamily Capital. It was structured as a direct purchase of tax-exempt and taxable bonds issued through the New York State Housing Finance Agency's “80/20” Housing Program with secondary market credit enhancement. The new permanent loan replaces the original $158 million construction facility provided by J.P. Morgan and Suntrust Bank.
Led by president Drew Fletcher, with support from managing director Matthew Klauer and associate Bryan Grover, Greytstone served as exclusive advisor on the deal representing both Rose Associates and Benenson.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
