Greystone Provides $19.5M Bridge Loan for Apartment Complexes in Dallas

DALLAS — Greystone has provided a $19.5 million bridge loan for the acquisition of two apartment complexes in Dallas. JD Stettin of Greystone’s New York office originated the loan. The interest-only bridge loan for the properties, known as Vineyards and Villa Jolla, includes a two-year term for the borrower, Dallas-based Presidium Group. Presidium plans to invest more than $5 million in capital improvements for both properties for interior and exterior upgrades. Presidium will pursue long-term HUD financing through Greystone.