Greenbrook Partners obtained a $485.6 million loan to refinance a multifamily and mixed-use portfolio located in prime New York locations.
Walker & Dunlop originated the loan assigned to mortgage giant Freddie Mac. The refinancing represents the culmination of Greenbrook's effort to build a high-quality multifamily portfolio, the firm said in a statement.
Freddie Mac's commitment demonstrates the opportunity for institutional capital to work with industry leaders across a range of strategies in the New York market, Greenbrook said.
"Securing agency financing for a historic infill New York City portfolio is a groundbreaking achievement," Fred LeCao, principal at Greenbrook, said in a statement.
The loan is backed by more than 260 properties spanning 15 markets throughout New York, according to loan documents on file with the Office of the City Register.
Greenbrook operates the properties in a joint venture with Carlyle Group through various Townhouse Rental limited liability corporations.
Neither Greenbrook nor Carlyle Group responded to CoStar News' requests for additional information.
The portfolio's strong fundamentals and sustainable performance were key to attracting the industry's largest lenders, Greenbrook said.
Greenbrook is a vertically integrated real estate investment manager. Since its inception, the company has deployed over $2 billion in equity across 400 multifamily properties. It targets small apartment buildings in New York neighborhoods, acquiring and operating them jointly as rental properties.