Greystone Provides $50M Loan For Metro Philadelphia Property

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Goldcrest Management used the Freddie Mac financing to acquire a 484-unit apartment community in Pine Hill, N.J.: Goldcrest Management has landed a $49.6 million Freddie Mac Optigo® loan for the acquisition of Chalet Gardens, a 484-unit apartment community in Pine Hill, N.J. Greystone’s Managing Director Dan Sacks originated the transaction. The 10-year financing features an adjustable rate and 30-year amortization, with the first five years of interest-only payments. Built in 1973, the garden-style community is located at 320 West Branch Ave. The property encompasses one- and two-bedroom units with eat-in kitchens, in-unit washer and dryers and private outdoor living spaces.

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