October 18, 2016
Greysteel arranged $14.9 million in senior debt and preferred equity for the acquisition and construction of the vacant property at 1724 Kalorama Rd. NW in Washington D.C. The commercial asset in question is being acquired by Bellevue LLC, and will be renovated and converted into a 48-unit multifamily property, with four parking spaces.
Greysteel’s financing includes a senior construction loan that is non-recourse in nature, with a fixed interest rate. Also part of the package is preferred equity from different investors. Brendan Scanlon with Greysteel negotiated the financing package.
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