Greystone secures $81 million Freddie Mac Optigo loan to refinance Vernola Marketplace Apartments, a 397-unit luxury multifamily property in Jurupa Valley. The financing was originated by Clint Darby and Andrew Remenschneider at Greystone, in partnership with BMO Bank.
BMO provided the construction loan for the property and worked alongside Greystone to secure a permanent exit on behalf of their client Bridge Investment Group. The non-recourse, fixed-rate loan was quickly index locked within 24 hours after the Federal Reserve meeting in early November 2023, resulting in an advantageous rate drop.
According to Kim Liautaud, head of BMO’s U.S. commercial banking real estate group: “The collaboration between BMO and Greystone allowed for an optimal execution for our valued client.” She also added that “the agency loan exit perfectly aligned with our client’s needs” and that they continue to see growth opportunities through their partnership with Greystone.
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