Greystone, a leading national commercial real estate finance company, has announced it has provided a $166,205,000 Freddie Mac-backed permanent loan on behalf of TRITEC Real Estate Company and The Olayan Group to refinance The Core at Station Yards, a newly delivered, 388-unit, mixed-use residential, office and retail complex in Ronkonkoma, New York.
The 10-year, fixed-rate loan was arranged by Greystone Capital Advisors and originated by Greystone Servicing Company LLC as it was a previous refinance construction financing from ING.
The Property features 388 Class A rental units, approximately 83,500 square feet of office and retail space, and 1,229 parking spaces. Since its delivery in September 2024, The Core has quickly emerged as Long Island’s premier live-work-play destination, adding critical housing options in a supply-constrained market and curated locally based retail offerings centered around a vibrant downtown square. This dynamic setting has become a focal point of connectivity and placemaking for both the surrounding community and the broader Station Yards development.
Greystone Capital Advisors, led by Drew Fletcher, Jesse Kopecky, and Bryan Grover, served as exclusive advisor to the sponsorship team on the transaction.
“We’re proud to have worked with TRITEC and The Olayan Group on this milestone financing for The Core, a signature asset at the heart of one of Long Island’s most impactful master-planned developments,” said Drew Fletcher, President of Greystone Capital Advisors.
“The refinancing reflects the strength of the asset and the continued demand for high-quality housing within thoughtfully designed, transit-oriented communities,” said Jimmy Coughlan, Executive Vice President and Partner at TRITEC Real Estate Company. “We’re grateful to Greystone for their efforts to secure financing that supports the long-term success of Station Yards.”
Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare lending, having ranked as a top FHA, Freddie Mac, and Fannie Mae lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates.
