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TUSCALOOSA, ALA. — Greystone has provided a $28.2 million Freddie Mac loan to finance the purchase of Landmark Apartments, a 264-unit multifamily community located in Tuscaloosa. Elliott Mulkin of Greystone originated the five-year loan, which features a 30-year amortization schedule and interest-only payments. The borrower and seller were not disclosed. Andrew Brown and Craig Hey of Cushman & Wakefield represented the buyer in the sale.
Built in 2007, Landmark Apartments spans 23 acres and comprises a mix of one-, two- and three-bedroom floorplans. Amenities at the garden-style community include a resort-style swimming pool, fitness center with yoga studio, resident clubhouse, business center and outdoor gathering spaces.