Greysteel Equity Markets, an affiliate of Greysteel, has arranged $26 million in agency financing and $9 million in private placement equity for the off-market acquisition and repositioning of the Horizon Square Apartments, a multifamily property located in Laurel, MD on behalf of ROSS Companies, a leader in multifamily acquisitions, property management, and renovation in the Mid-Atlantic Region.

The $26 million loan, provided by a national agency lender, features a competitive 10-year fixed-rate and four years of interest-only payments. The $9 million of equity was raised through a private placement with high-net-worth and family office investors for the acquisition and capital improvements of the property. Capital improvements will include replacement of all windows, updating of common areas, and implementation of energy efficient and cost saving measures like installation of LED lighting. Greysteel’s Chief Executive Officer, Matt Schwartz, and Director, Mark Bittenbender, negotiated this transaction.

The 94% occupied Horizon Square Apartments is a 254-unit elevator-serviced mid-rise multifamily property. Developed in 1969, residents enjoy numerous property amenities including an Olympic-sized swimming pool, a sundeck, a picnic area, a 24-hour fitness center, a playground, bike storage, and laundry facilities on every floor. The prime location of the multifamily property, at 3563 Fort Meade Road, offers residents easy access to both Washington, D.C. and Baltimore via the MARC train line, the Baltimore-Washington Parkway, and Interstate-95.

Also in close proximity is Fort Meade, located less than six miles from the property, which is the largest employer in the state of Maryland and the third largest workforce of any Army installation in the U.S. Home to 117 partner organizations and federal agencies including the NSA (National Security Agency), the U.S. Cyber Command, and the Defense Information Systems Agency, Fort Meade maintains a direct and growing workforce of more than 55,000 employees and is responsible for generating thousands of indirect and induced jobs by virtue of the numerous defense and government contractors that serve it’s tenant organizations and maintain a presence in the market.

“By leveraging the high quality of the asset, top-tier sponsorship, and our relationships with private capital investors, we were able to execute a private placement of equity for the reposition of the property,” said Mr. Schwartz. “Greysteel was able to provide the full capital stack for this acquisition, tailored to fit the needs of the sponsor’s business plan,” he added.

About Greysteel Equity Markets:

Greysteel Equity Markets, an affiliate of Greysteel, is a registered securities broker-dealer and investment banking firm. The company provides structured financing and equity placement solutions for all property types nationwide.