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Franklin Square Upsizes Greystone Loan by $50 Million

Franklin Square Capital Partners, a manager of business development companies, announced a $50 million upsizing of its senior secured loan to an affiliate of Greystone & Co.

Greystone, together with its affiliates, is a real estate financial services and investment group and an FHA multifamily loan originator, with lending programs focusing on the multifamily, senior care and healthcare sectors.

Franklin Square’s upsized loan provides capital to expand Greystone’s bridge lending portfolio. The company’s bridge lending business typically provides 12- to 36-month financing options, which helps its clients prepare, season and reposition properties to qualify for Fannie Mae, Freddie Mac and FHA permanent loans.

Financing was provided by FS Investment Corporation (NYSE: FSIC), a business development company managed by an affiliate of Franklin Square and sub-advised by an affiliate of GSO Capital Partners LP.

Founded in Philadelphia in 2007, Franklin Square has introduced a number of credit-based income funds, including the industry’s first non-traded business development company. As of March 31, 2016, the firm managed approximately $17 billion in total assets, including $15.4 billion in BDC assets, making it the largest manager of BDCs.

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