Quantum Equities Lands $60M Acquisition Loan

2 min read

Quantum acquired the community in a Washington, D.C., suburb with financing provided by Greystone.

Oaks at Park South. Image courtesy of Greystone

Quantum Equities has secured financing from Greystone for another one of its Maryland communities. Greystone provided the firm with a $59.7 million loan for its acquisition of Oaks at Park South in Oxon Hill, Md.

Greystone’s Eric Rosenstock and Dan Sacks originated the Fannie Mae Delegated Underwriting & Servicing financing. The financing is a non-recourse, structured adjustable rate mortgage loan, which has a 10-year term and 30-year amortization along with 10 years of interest-only payments. The loan also qualifies for Fannie Mae Multifamily Green Rewards financing program, once the community completes its energy and water conversion measures.

Quantum Equities acquired the community from Arbor Realty Trust in September for $83.5 million, according to Yardi Matrix data. The community previously changed hands for $40.6 million in July 2014 when Arbor acquired it from Acento Real Estate Partners, according to Yardi Matrix data.

Located at 5400 Livingstone Drive, Oaks at Park South offers 488 units in one-, two- and three-bedroom units that range from 724 to 1,390 square feet. The units have a balcony or patio, large closets and storage space, and are spread throughout 26 three-story residential buildings. The community’s amenities include a pool, business center and laundry facilities. Oaks at Park South is 97.3 percent occupied, according to Yardi Matrix data.

Working together again

Rosenstock said in prepared remarks that it’s not the first time Greystone has worked with Quantum Equities. Previously, the team arranged an $87 million refinancing for Quantum’s 486-unit community in Lanham, Md. Prior to the refinancing, Greystone originated the $68.8 million Fannie Mae DUS loan when Quantum Equities acquired the Lanham property in August 2018.

Outside its Maryland communities, Quantum Equities has properties located in Florida, North Carolina, New Jersey and New York. The New York City-based firm recently entered the Charlotte, N.C. market when it acquired the 301-unit community, The Flats at Arrowood, from Blackfin Real Estate Investors in February 2020.

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