10A — August 12 - 25, 2016 — Financial Digest — Multifamily Financing — M id A tlantic

Real Estate Journal


M ultifamily F inancing

Greysteel arranges the sale of The Oaks for $250,000 per unit Greysteel arranges $35m in financing & private placement equity for off-market acquisition L

features a competitive 10-year fixed-rate and four years of interest-only payments. The $9 million of equity was raised through a private placement with high-net-worth and fam- ily office investors for the acquisition and capital im- provements of the property. Capital improvements will include replacement of all windows, updating of com- mon areas, property amenities including an Olympic-sized swimming pool, a sundeck, a picnic area, a 24-hour fitness center, a playground, bike storage, and laundry facilities

on every floor. The location of the multifamily property, at 3563 Fort Meade Rd., offers residents easy access to both Washington, D.C. and Balti- more via the MARC train line, the Baltimore-Washington Parkway, and I-95. Also in close proximity is Fort Meade, located less than six miles from the property, which is the largest employer in the state of Maryland and the third largest workforce of any Army installation in the U.S. Home to 117 partner or- ganizations and federal agen- cies including the NSA (Na- tional Security Agency), the U.S. Cyber Command, and the Defense Information Systems Agency, Fort Meade maintains a direct and growing workforce of more than 55,000 employees and is responsible for generat- ing thousands of indirect and induced jobs by virtue of the numerous defense and govern- ment contractors that serve it’s tenant organizations and maintain a presence in the market. “By leveraging the high quality of the asset, top-tier sponsorship, and our rela- tionships with private capital investors, we were able to execute a private placement of equity for the reposition of the property,” said Schwartz. “Greysteel was able to provide the full capital stack for this acquisition, tailored to fit the needs of the sponsor’s business plan,” he added. WASHINGTON, DC — Greysteel has arranged the sale of The Oaks, a multifam- ily property located in North- west Washington, DC, for $2 million or $250,000 per unit. This transaction was ar- ranged by Greysteel senior director, W. Kyle Tangney , and investment associate, Herbert Schwat ; who are based in the company’s Wash- ington, DC office. The Oaks, totaling eight units, was completely reno- vated in 2013 and delivered vacant for prospective buyers, making it an ideal 1031 Ex- change opportunity. Located at 1447 Oak St., NW in the Co- lumbia Heights neighborhood of Washington, DC, The Oaks is within walking distance to various retail, dining, and nightlife options along 14th Street including Black Whis- key, Provision 14, Shinola, and Barcelona Wine Bar. n

A U R E L , M D — Greys tee l Equi ty Markets , an affiliate of Greysteel, has arranged $26 million in agency financing and $9 million in private place- ment equity for the off-market acquisition and repositioning of the Horizon Square Apart- ments, a multifamily property located in Laurel, MD on be- half of ROSS Companies , one of the leaders in multifamily acquisitions, property man- agement, and renovation in the Mid-Atlantic Region. The $26 million loan, provid- ed by a national agency lender,

Horizon Square Apartments

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