James Yannios, principal of Yannios RE Investment Services brokered the sale of an 18 unit garden style apartment building for $1.62 million. Yannios exclusively represented the seller, JSM Group, LLC and secured the buyer, M and R Broadway Methuen, LLC.
Yannios said that the sale was a "win-win" transaction for both principals due to the low interest rates and low inventory of apartment buildings available on the market.
Greystone, a leading national provider of multifamily and commercial mortgage loans provided the permanent financing for the acquisition through Fannie Mae's Small Loan Program. Adam Whitehouse of Greystone's New England office provided the buyer with a 10-year, non-recourse loan with a 30-year amortization.
Greystone also provided a cash-out refinance on one of the buyer's other properties that provided the equity to fund the acquisition.
Headquartered in Wakefield, Mass., Yannios RE Investment Services is a real estate brokerage firm that specializes in the sale and exchange of apartment buildings to private and institutional investors. Yannios RE was created to serve multifamily owners with the knowledge of highly skilled investment professionals with a marketing and sales platform that produces the best possible results for its sellers. Yannios RE is a dedicated team of experienced brokers that understand their client's needs and achievements. They have 20 years experience in multifamily sales and over that time have employed aggressive marketing techniques to provide our client's with the best satisfying service in the business. Yannios RE is committed to excellence and that translates into satisfying every expectation of our clients' needs. That is why we have a large sales volume and at times record level sales in our markets. The overwhelming number of repeat buyers and sellers and proven sales results are the best indicator of Yannios RE success. Yannios RE has gained a reputation of being able to achieve some of the highest sale prices in our market and our track record for finding buyers for hard-to-sell properties is unmatched.
Greystone is a financial services and private investment group whose original core business is real estate lending. Over the years, Greystone has added business lines that are related to, and natural extensions of, its core business. Headquartered in New York with a presence in 35 states and 17 offices throughout the United States, Greystone is active in four major business segments: mortgage finance, proprietary investment, healthcare and real estate.