Greystone secures $81 million Freddie Mac Optigo loan to refinance Vernola Marketplace Apartments, a 397-unit luxury multifamily property in Jurupa Valley. The financing was originated by Clint Darby and Andrew Remenschneider at Greystone, in collaboration with BMO Bank.
BMO provided the construction loan for the property and partnered with Greystone for a permanent exit on behalf of their client Bridge Investment Group. This non-recourse, fixed-rate loan was index locked within 24 hours after the Federal Reserve meeting in early November 2023, resulting in an advantageous rate drop according to Greystone.
“The collaboration between BMO and Greystone resulted in an optimal execution for our valued client,” stated Kim Liautaud, head of BMO’s U.S. commercial banking real estate group. “The agency loan exit aligned perfectly with our client’s needs and we continue to see growth opportunities through our partnership with Greystone.”
