**Greystone Secures $166M Freddie Mac Loan for Ronkonkoma Mixed-Use Project**
Greystone has arranged a $166,205,000 Freddie Mac-backed permanent loan on behalf of TRITEC Real Estate Company and The Olayan Group to refinance The Core at Station Yards, a newly completed 388-unit mixed-use residential, office, and retail development located in Ronkonkoma, New York. The 10-year, fixed-rate loan was arranged by Greystone Capital Advisors and originated by Greystone Servicing Company LLC. The loan serves as a refinance of the construction financing initially provided by ING.
“We’re proud to have worked with TRITEC and The Olayan Group on this milestone financing for The Core, a signature asset at the heart of one of Long Island’s most impactful master-planned developments,” said Drew Fletcher, President of Greystone Capital Advisors. Fletcher, along with Jesse Kopecky and Bryan Grover, led the Greystone Capital Advisors team in their role as exclusive advisor to the sponsorship group.
Located at 3 Hawkins Avenue, The Core marks a new phase in the evolution of Station Yards, a major transit-oriented master development adjacent to the Ronkonkoma Long Island Rail Road station. The project introduces the first office and retail components to the two-million square foot development. In addition to its Class A rental units, the property features approximately 83,500 square feet of commercial space and 1,229 parking spaces.
