NEW YORK, Nov. 02, 2015 (GLOBE NEWSWIRE) -- Greystone, a real estate lending, investment and advisory company, today announced it has provided a $46,000,000 bridge loan for the acquisition of Riverview Landing at Valley Forge in Eagleville, PA. The loan was originated by Nathan Schuss of Greystone on behalf of Liss Property Group.
Greystone presented the financing opportunity with an introduction to a joint venture equity partner, Azure Investments, which enabled Liss Property Group to acquire the 310-unit multifamily property. Riverview Landing at Valley Forge, a marquis addition to the company’s portfolio, is a luxury rental complex along the Schuykill River in Pennsylvania offering residents a resort-style pool and clubhouse, fitness center, and business center, among other amenities.
"Greystone’s well-structured and competitively priced bridge program along with access to equity providers served a key role in helping Liss Property Group acquire this high quality asset," said Mark Jarrell, Executive Vice President at Greystone.
Billy Liss, founder and CEO of Liss Property Group, added, “We’re excited to add this generational asset into our family’s portfolio. It has all the attributes of a winning asset providing first-rate housing with the opportunity to increase value over time by adding other luxury and amenities for the residents. We feel so grateful to have acquired this Class A asset with true Class A partners in Greystone and Azure Investments.”
About Greystone
Greystone is a real estate lending, investment and advisory company with an established reputation as a leader in multifamily and healthcare finance, consistently ranking as a top FHA and Fannie Mae lender in these sectors. Our range of services includes commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge and proprietary loan products. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information, visit www.greyco.com.
About Liss Property Group
Liss Property Group is an innovative multifamily real estate investment and management firm that combines the stability of proven performance with the dexterity and hustle of a young start-up. Founded in 2000, LPG is opportunistic and responsive in locating "value add" multifamily real estate investments, yet wise and experienced in day-to-day management, renovation, and enhancement of its assets and resident relationships, keeping satisfaction high and vacancies low. To learn more about the Liss Property Group, visit www.lisspropertygroup.com.