Greystone Secures $68M for Maryland Property
The loan for the suburban community included funds from Fannie Mae’s Green Financing suite. Feb192021
Regency Pointe.
Greystone has arranged two loans totaling $68 million on behalf of Quantum Equities for Regency Pointe, a 595-unit multifamily property in Prince Georges County, Md. The first, $65.9 loan was part of Fannie Mae’s Green Financing solutions for multifamily properties, while the second, for $2.1 million, was a mezzanine loan. Both loans carry a 12-year term and 30-year amortization.
The financing served for the acquisition along with ongoing renovations at the property. According to Yardi Matrix data, Quantum acquired the asset from Turner Impact Capital at the beginning of the year for $80 million. The asset last traded in 2015, for $56 million.
Courtesy of Transwestern The Regency Pointe Apartments in Forestville, Maryland
Transwestern brokered sales of the Montclair Apartment Homes property in Silver Spring and the Regency Pointe apartments in Forestville last week for a combined $139M,
Bisnow can first report.
Turner Impact Capital sold the 599-unit Regency Pointe property to Quantum Equities for $80M. The garden-style apartment community sits at 3253 Walters Lane in Forestville, roughly a mile inside the Beltway in Prince George s County.
LCOR and Ares Management sold the 256-unit Montclair Apartment Homes property to Priderock Capital Partners for $58.7M. The property at 3525 Sheffield Manor Terrace is in northern Silver Spring, near the interchange of Columbia Pike and Route 200.