Greystone, a leading national commercial real estate finance company, has provided an $18,220,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) loan for the acquisition of a 139-unit multifamily property in Chicago, Illinois. The financing was originated by Clint Darby and Andrew Remenschneider of Greystone.
Originally constructed in 1927, Cornelia-Stratford in Cook County is a mid-rise apartment building featuring studio, one-, two-, three- and four-bedroom units. The property’s amenities include bike storage, laundry facilities and tenant lounge. The $18.2 million non-recourse, fixed-rate loan features a 15-year term with interest-only payments for the first five years of the term.
“We deeply appreciate it when clients return to Greystone based on their past experiences with us – there is no greater show of trust in our process and multifamily expertise,” said Mr. Darby. “Our careful and creative approach helps clients achieve their goals, and we leverage our extensive lending platform to bring them exceptional solutions quickly.”
Greystone, a leading national commercial real estate finance company, has provided a total of $21,503,000 in Fannie Mae Delegated Underwriting & Servicing (DUS®) loans to refinance two multifamily properties in New York City’s Harlem neighborhood. The financing was originated by Avi Kozlowski, a Managing Director at Greystone on behalf of Josef Goodman of Haussman Development.
Each of the non-recourse, fixed-rate loans in the portfolio carries a five-year term and 30-year amortization schedule, with interest-only payments for the first two years of the term. The portfolio includes:
· $11,379,000 for The Duke, a 28-unit midrise apartment building located at 521 W. 134th Street
· $10,124,000 for The Count, a 27-unit midrise apartment building located 168 W. 136th Street
“Clients trust Greystone to help them achieve their goals because we know the ins and outs of multifamily finance,” said Mr. Kozlowski. “Our careful and creative approach, coupled with our extensive lending platform, means that we can deliver exceptional solutions quickly and seamlessly for our clients.”
“No one is more knowledgeable about multifamily finance than Greystone – they have set the bar high when it comes to industry knowledge, product depth and of course, service,” said Mr. Josef Goodman, principal of the borrower. “We’re grateful for Greystone’s attention to detail and guidance throughout this process and look forward to working with our team in the future.”
Greystone, a leading national commercial real estate finance company, has provided an $18,620,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) loan for the acquisition of a 204-unit multifamily property in Fort Worth, Texas. The financing was originated by John Williams, Managing Director at Greystone.
Constructed in 2003, The Residences of Diamond Hill in Tarrant County is a 40-building garden-style apartment community featuring two-, three- and four-bedroom apartments. More than half of the apartments are designated for low-income (below 60% area median income, or AMI) and extremely low-income (below 30% AMI) residents.
The property has land-use restriction agreements (LURAs) requiring limits on resident income and rent restrictions on 121 apartments. The $18.6 million Fannie Mae Multifamily Affordable Housing (MAH) acquisition loan carries a 10-year term and 35-year amortization, with interest-only payments for the first five years.
The property’s amenities include a fitness center, swimming pool, outdoor grill and picnic area, playground and an after-school program.
“Greystone is passionate about helping clients find the right financing to bring quality, affordable housing to working families in their communities,” said Mr. Williams. “We are deeply committed to being part of the solution for our nation’s affordable housing crisis and are proud that our multi-faceted and extensive multifamily lending platform equips us with the tools and resources to do so.”
Greystone, a leading national commercial real estate finance company, has provided a $74,576,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) loan to refinance a 672-unit multifamily property in Burleson, Texas. The financing was originated by Avi Kozlowski, a Managing Director at Greystone.
Constructed in 2023, Shannon Creek Apartments in Johnson County is a garden-style community with 24 buildings featuring one- and two-bedroom units. Property amenities include a clubhouse, fitness center, business center, game/media room, yoga room, resort-style swimming pool, barbeque area, dog park and care station, and sports courts. The $74.6 million non-recourse, fixed-rate financing is part of Fannie Mae’s Green Building Certification program and features a five-year term and 30-year amortization, with full-term interest-only payments.
“We leave no stone unturned when finding financing solutions that help our clients achieve their goals for their properties,” said Mr. Kozlowski. “We leverage our well-diversified lending platform and lean into our multifamily experience for every transaction, so every Greystone client can achieve exceptional outcomes.”
Greystone, a leading national commercial real estate finance company, has provided a $14,500,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) loan to refinance a 216-unit multifamily property in Hoover, Alabama. The financing was originated by Rob Meehan, Managing Director at Greystone, with HKS Capital Partners acting as correspondent.
Constructed in 1983, 700 Riverchase in Shelby County is a garden-style apartment community with 12 buildings featuring one-, two- and three-bedroom units. The property’s amenities include a fitness center, laundry facilities, swimming pool, outdoor grill center, dog park, playground and pickleball court. The $14,500,000 non-recourse, fixed-rate financing features a five-year term and 30-year amortization, with interest-only payments for the full term of the loan.
“Greystone’s well-diversified lending platform and our longstanding multifamily experience mean that we can get creative when helping our clients find the right financing terms in most markets,” said Mr. Meehan. “Our goal is to help our clients bring the vision for their properties to life, and we work to ensure that every phase of loan transaction is executed seamlessly.”
“Our experience with Greystone was incredible – our team understood our needs quickly and crafted the right financing solution for our property,” said Mr. David Topping, principal of the borrower. “We appreciated their insights, expertise and attention to detail at every stage, and we look forward to working with them in the future.”
Greystone, a leading national commercial real estate finance company, and Cushman & Wakefield, a leading global real estate services firm, jointly announced they provided acquisition financing for, and arranged the sale of, respectively, a 344-unit two-property multifamily portfolio in Maryland.
The Fannie Mae Delegated Underwriting & Servicing (DUS®) loans were originated by Dan Sacks, Senior Managing Director, and Alex Basile, Executive Director, of Greystone on behalf of Olivetree Management, with Jorge Rosa and Anthony (TJ) Liberto advising on the sale of the properties for Cushman & Wakefield.
The properties were acquired for approximately $73.5 million total and financed with Fannie Mae loans totaling $57 million. The communities, Columbia Apartments and Town Center Apartments, boast 94% occupancy in the high growth, highly desirable Columbia suburb of Baltimore, Maryland.
“This transaction represents a true collaboration for our teams, culminating in a repeat client of ours acquiring the properties and Greystone being able to provide the acquisition financing with Cushman & Wakefield advising on the sale,” said Mr. Sacks. “In today’s market, with high volatility, it’s gratifying to provide a smooth execution for our client and to have the success of our joint venture with Cushman & Wakefield validated.”
