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## Greystone Commercial Capital Closes $419.59 Million Loan Deal to Refinance Panorama Tower in Miami, Florida

### Overview of the Transaction
On February 20, 2024, Greystone Commercial Capital (GCC) successfully closed a $419,590,000 transaction to refinance the prestigious Panorama Tower located on Brickell Bay Drive in Miami, Florida. The iconic property stands tall at 85 stories and boasts a Class A+ designation. It serves as a mixed-use residential complex with 821 multifamily residences, 112,731 square feet of Class A office space, 25,219 square feet of retail space, a 2,000-space private parking garage, and an attached 19-story, 208-room Hyatt Centric Hotel. Notably, the financing package involved a structured Agency loan in collaboration with an investment led by a global pension fund.

### GCC’s Role in the Deal
GCC, a division of Greystone that specializes in structured commercial mortgages for institutional clients across various property types, played a pivotal role in orchestrating this landmark transaction. The funding comprised of a $334,590,000 Freddie Mac Optigo® senior loan, provided by Greystone Servicing Company LLC, with a five-year term and 35-year amortization. Additionally, $85,000,000 of Agency-compliant subordinate debt was also included in the refinancing package.

### Testimonial from GCC’s President and Chief Investment Officer
In light of this accomplishment, Scott Chisholm, President and Chief Investment Officer at Greystone Commercial Capital, expressed his gratitude for the opportunity to collaborate with top financial institutions and Florida East Coast Realty on such a significant project at Panorama Tower. Chisholm lauded GCC for delivering a cutting-edge, structured finance solution that underscored the company’s position as an industry leader.

### About Greystone
Greystone, a prominent national commercial real estate finance firm, is esteemed for its expertise in multifamily and healthcare finance. The company holds a distinguished record as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are extended through Greystone Servicing Company LLC, Greystone Funding Company LLC, and/or other Greystone affiliates.

### How AI legalese decoder Can Help
AI legalese decoder can streamline the process of reviewing and comprehending complex legal documents and contracts involved in commercial real estate transactions, such as the refinancing of Panorama Tower. This powerful tool leverages artificial intelligence to decipher and simplify legal jargon, enabling parties to navigate intricate agreements more efficiently and mitigate the risk of misunderstandings or oversights. By harnessing AI legalese decoder, stakeholders in real estate finance can enhance due diligence, mitigate legal risks, and expedite the closing of multi-million dollar deals like the one executed by Greystone Commercial Capital.

### Press Contact
For media inquiries, please contact:
Karen Marotta
Greystone
Phone: 212-896-9149
Email: [email protected]


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