Greystone Commercial Capital and Affinius Capital LLC recently closed a $172 million structured financing for the refinance of Rise Koreatown, a newly constructed mixed-use residential complex in Los Angeles’ Koreatown submarket. Developed by Rescore Property Group, an affiliate of Encore Capital Management, the transaction was syndicated by Greystone Commercial Capital which specializes in institutional structured commercial mortgage loans including subordinate debt for all major property types.
The bridge loan serves as a construction take-out with an option to transition into permanent agency financing upon stabilization. “We are pleased to collaborate with Affinius and serve our mutual client Rescore,” said Scott Chisholm, President & CIO of Greystone Commercial Capital.
