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Greystone Refinances LI Luxury Apartments With $203M Freddie Mac Loan

Alston in Ronkonkoma, NY

TRITEC Real Estate Company has secured $203.1 million of Freddie Mac-backed debt to refinance a new multifamily community on Long Island, Commercial Observer can first report.

Greystone supplied the loan for TRITEC’s Alston Station project,  a recently built 489-unit market-rate rental apartment complex in Ronkonkoma, N.Y. The 10-year, fixed-rate debt package, which was originated by Greystone’s Dan Gillard, refinances previous construction financing from Bank of America. SEE ALSO: Bank of America Lends $445M on Westchester Industrial Recap

A Greystone Capital Advisors team led of Drew Fletcher, Matthew Hirsch, Jesse Kopecky and Tori Colledge served as exclusive advisers to TRITEC, and assisted in arranging the financing. 

“We are thrilled to have worked with TRITEC as they complete stabilization of this critical first phase of The Hub in Ronkonkoma,” Fletcher, the president of Greystone Capital Advisors, said in a statement. “This financing is proof of their vision for the project to develop distinctive properties that create enduring value and enhance the neighborhoods in which they are located.”

Read more in the Commercial Observer.