Greystone Provides $15.7 Million in Freddie Mac Financing for Multifamily Property in Indianapolis
NEW YORK, Feb. 06, 2023 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, has provided $15,656,000 in Freddie Mac Optigo® financing to acquire a 208-unit multifamily property in Indianapolis, Indiana. The financing was originated by Miryam Reinitz-Kops, Vice President in Greystone’s New York office. George Tikijian of Cushman & Wakefield acted as correspondent on the transaction.
Constructed in 1989, Trails at Lakeside in Marion County is a garden-style apartment community consisting of six buildings that offer one-, two- and three-bedroom units. The $15,656,000 non-recourse, fixed-rate Freddie Mac loan carries a 12-year term and 30-year amortization, with three years of interest-only payments. In addition to the acquisition, loan proceeds enable the borrower to make improvements to the property.
Capodagli Property Company, led by George Capodagli, President, has recently initiated a new mandate to expand its footprint beyond New Jersey, where the company currently owns and operates a few thousand units of self-built multifamily. “Indianapolis is an ideal market for our growth plans and we are looking forward to building a strong presence there,” said Jim Feisel, Vice President at Capodagli Property Company, who is heading up this expansion initiative.
“Clients trust Greystone because of our deep financing platform and unparalleled industry acumen – we pride ourselves in finding creative solutions for every transaction,” said Ms. Reinitz-Kops. “Our goal is to provide a superior service experience on every transaction so our clients can realize the goals they have for all of the properties in their portfolios.”
Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com.
About Capodagli Property Company
Founded in 1970, Capodagli Property Company is recognized for its ability to envision thriving communities on barren parcels, playing a major role in the redevelopment of these communities. As President of Capodagli Property Company, George M. Capodagli oversees every aspect of the development process and, to date, has completed over a half billion dollars’ worth of apartment and construction projects across New Jersey and New York, winning a well-deserved reputation as a catalyst for bringing economic expansion and new investments to re-emerging areas. The key towns he’s planted roots in include Linden, Bound Brook, Hackensack, Roselle Park, Dover and Rahway, among others.