Greystone provided a $166,205,000 Freddie Mac-backed permanent loan on behalf of TRITEC Real Estate Company and The Olayan Group to refinance The Core at Station Yards, a newly delivered, 388-unit, mixed-use residential, office and retail complex in Ronkonkoma, NY. The 10-year, fixed-rate loan was arranged by Greystone Capital Advisors and originated by Greystone Servicing Company LLC, as it was a refinance of construction financing from ING.
“We’re proud to have worked with TRITEC and The Olayan Group on this milestone financing for The Core, a signature asset at the heart of one of Long Island’s most impactful master-planned developments,” said Drew Fletcher, president of Greystone Capital Advisors. Led by Fletcher, Jesse Kopecky and Bryan Grover, Greystone Capital Advisors served as exclusive advisor to the sponsorship team.
Located at 3 Hawkins Ave., The Core represents the next chapter of Station Yards, introducing the first retail and office spaces within the two-million square foot, transit-oriented master development directly adjacent to the Ronkonkoma Long Island Rail Road station. Along with Class A rental units, the property includes approximately 83,500 square feet of office and retail space and 1,229 parking spaces.
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