A luxurious Buckhead apartment tower just received a refinancing package of more than $68 million.
The Irby is located at 65 Irby Ave. NW. Courtesy of Google Maps.
Bridge lender Greystone Monticello said it provided a $60,250,000 bridge loan and an $8 million mezzanine loan to an affiliate of Loan Star Funds for The Irby, a 277-unit class-A multifamily tower. Greystone Monticello’s Greystone Commercial Capital division, which focuses on institutional structured lending, arranged the financing.
Developed in 2020, The Irby is 12 stories high and offers a mix of studio, one- and two-bedroom apartments, 15,000 square feet of retail and 132 parking spaces. Amenities include a resort-style saltwater pool, elevated courtyard with fire pit and grilling station, private cabanas, 24-hour athletic club, yoga studio and sauna, complimentary wine on-tap and a high-rise lookout terrace, among other features.
“It’s a true testament to the strength of the Greystone Monticello joint venture that the team sprang into action and worked closely to execute this financing to meet the client’s needs,” said Scott Chisholm, head of Greystone Commercial Capital. “Having the bridge financing team so close at hand to work together on large-scale transactions means that our clients have numerous options for financing as they weigh permanent exit options, and this bridge solution was no exception.”
Amenities include a resort-style saltwater pool, elevated courtyard with fire pit and grilling station and private cabanas. Courtesy of The Irby.