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Greystone Funds $49.5M Agency Acquisition Loan for Multifamily Asset in Pine Hill, New Jersey

Chalet-Gardens-Pine-Hill-New-Jersey

Chalet Gardens inPine Hill, New Jersey, totals 484 units. The property was built in 1973.

PINE HILL, N.J. — Greystone has funded a $49.5 million Freddie Mac acquisition loan for Chalet Gardens, a 484-unit multifamily property in Pine Hill, located in the southern part of the state. Built in 1973, the property offers one- and two-bedroom units and amenities such as a pool, fitness center, picnic area and a playground. Dan Sacks of Greystone originated the loan, which carries a 10-year term, a 30-year amortization schedule and interest-only payments for the first five years. The borrower was Goldcrest Management.

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‣ Walker & Dunlop

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