Lone Star Funds receives $68.2m for class A multifamily in submarket of Atlanta
Lone Star Funds has received a $60.25 million bridge loan and an $8 million mezzanine loan to refinance The Irby, a class A multifamily property located in the Buckhead submarket of Atlanta and owned by an affiliate of Lone Star Funds, a leading private equity enterprise. The financing was originated by Greystone Commercial Capital, a division at Greystone that focuses on institutional structured lending.
Developed in 2020, The Irby is 12 stories high with 277 residential units (studio, one-bedroom and two-bedroom layouts), 15,000 square feet of retail and 132 parking spaces. Amenities at the property include a resort-style saltwater pool, elevated courtyard with fire pit and grilling station, private cabanas, 24-hour athletic club and yoga studio, complimentary wine on tap, sauna, media and game room, on-site pet spa, bike room and repair station, Peloton bikes, high-rise lookout terrace, 24/7 concierge, a curated art program and more.