Greystone Secures Refi for Luxury BTR Community

Greystone has secured a $14 million loan for the refinancing of Linda Vista Luxury Rentals, a 64-unit built-to-rent community in Oro Valley, Ariz. According to public records and Yardi Matrix information, Encore Finance provided the three-year note to Aerie Development.

Existing debt included a $10 million construction loan originated by Pacific Premier Bank in 2021, Yardi Matrix shows.

Completed earlier this year on a 7-acre site, Linda Vista consists of 16 one-story buildings, enclosing 20 one-bedroom and 44 two-bedroom units ranging from 781 to 1,098 square feet. Amenities at the pet-friendly community include a swimming pool, spa and grade-level parking with 136 spots.

The property is at 375 E. Linda Vista Blvd., just off Highway 77, which connects Oro Valley to downtown Tucson, Ariz. Target and Home Depot are less than 2 miles north. The area is surrounded by parks and hiking trails, including Naranja Park and Catalina State Park.

Greystone Managing Director Shana Daby sourced the transaction and led the team handling the debt placement, which included Managing Director Thomas Wayda and Associates Rebecca Reich and Dante DiStefano.