Greystone, a commercial real estate lending, investment and advisory company, has provided a $30 million bridge loan, as well as arranged the $36.5 million sale, of a three-property multifamily portfolio consisting of 490 units in Cobb County.
The seller, HKP Austell LLC, was represented by the Greystone Brown Real Estate Advisors team of Taylor Brown, Chandler Brown, Barden Brown and Walter Miller. Leor Dimant, vice president in Greystone’s New York office, originated the acquisition financing on behalf of the buyer.
The three garden-style properties are adjacent to one another in Austell. Built in 1988, Hunter’s Grove comprises 200 units averaging 952 square feet. Kingsley Village, which was built in 1974, includes 146 units averaging 1,066 square feet, with washer/dryer connections in all two- and three-bedroom floorplans. Parkview Apartments was built in 1971, and features 144 units with floorplans averaging 1,059 square feet.
Greystone Brown Real Estate Advisors is a commercial investment brokerage company specializing in the sale of multifamily and retail properties throughout the Southeast. The firm is one of the largest and oldest privately held apartment brokerage firms in the region.