Greystone Closes $26M Acquisition Loan for Apartment Community in Metro Baltimore

DUNDALK, MD. — Greystone has provided a $26 million bridge loan for the acquisition of Three Garden Village Apartments in Dundalk, a suburb of Baltimore in Baltimore County. The borrower, The SilverBrick Group, will invest $4 million to renovate the 592-unit property, which will be renamed SilverBrick Townhomes. The real estate developer and investor plans to ultimately invest $12 million in multiple phases to overhaul the asset. Donny Rosenberg of Greystone arranged the two-year loan on behalf of SilverBrick Group. The loan features two six-month extension options.