Greystone Secures $166M Freddie Mac Loan for The Core at Station Yards in Ronkonkoma
Greystone has provided 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. The newly completed 388-unit mixed-use complex, located in Ronkonkoma, NY, includes residential, office, and retail components. The refinancing loan carries a 10-year fixed interest rate and replaces construction financing initially provided by ING.
Drew Fletcher, president of Greystone Capital Advisors, commented, “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.” Fletcher led the deal alongside Jesse Kopecky and Bryan Grover, with Greystone Capital Advisors acting as the exclusive advisor to the sponsors.
Situated at 3 Hawkins Avenue, The Core marks a major development phase within Station Yards – a two-million square foot transit-oriented master-planned community adjacent to the Ronkonkoma Long Island Rail Road station. In addition to its Class A rental units, the property features approximately 83,500 square feet of retail and office space, as well as 1,229 parking spaces.
