Greystone Provides $29.3 Million Loan For Student Housing Project In Maryland

College Park, Md. — The Enclave at 8700 is near the University of Maryland.

College Park, Md. — Greystone has provided a $29.3 million bridge loan on The Enclave at 8700, a student housing property located within a mile of the University of Maryland in College Park. The Enclave features 94 one-, two- and four-bedroom suites, as well as a 24-hour complimentary shuttle bus, study lounge, electronic key access, fitness center and Wi-Fi. Andrew Ellis of Greystone closed the 24-month floating rate loan with two six-month extensions and an interest-only period for the first 18 months. Jared Cassidy of Marcus & Millichap Capital Corp. and Payton Banks of Marcus & Millichap originated the financing.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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