Greystone Monticello, a lending platform specializing in capital solutions for the multifamily and senior housing sectors, has closed two bridge loans amounting to $40.3 million for two apartment complexes in Las Vegas, Nevada.
The purpose of the loans is to refinance existing debt, while allowing additional time to improve operations. This strategy aims to position the properties for either a potential sale or permanent financing in the future.
Darryl Myrose, Senior Managing Director at Greystone Monticello, originated the loans through the company’s bridge lending platform.
“Despite current market challenges, we are pleased to offer a short-term, cash-neutral financing solution, providing our client with the time needed to complete their business plan,” said Mr. Myrose.
The properties, which collectively include 262 units, mark another expansion of Greystone Monticello’s financing presence within the multifamily housing sector.
If you are a proptech company and want to promote your products for free, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.
Explore more Proptech news at proptechbuzz.com/news, for news tips and promotions, reach out to marketing@proptechbuzz.com.
By Proptechbuzz
By Ravi Kumar
