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MYRTLE BEACH, S.C. — Greystone has provided a $26 million Freddie Mac loan to Eskay Management for the refinancing of Reserve at Ridgewood, a 180-unit asset in Myrtle Beach. The non-recourse, fixed-rate loan features a five-year term and 30-year amortization, with interest-only payments for the first two years of the term. Avi Kozlowski of Greystone originated the financing on behalf of the borrower.
Reserve at Ridgewood was originally constructed in 1998. The garden-style community consists of 15 residential buildings. Units come in two- and three-bedroom layouts. Tenants have access to amenities such as a clubhouse, pool, fitness center, laundry facilities, dog park, storage units, playground, grill and picnic area.