Greystone Closes $36.1 Million In Fannie Mae Financing For The Acquisition Of A Three-property Portfolio In Georgia News
March 9, 2016
Greystone announced it has provided $36,112,000 in Fannie Mae DUS® loans for the acquisition of a portfolio of three multifamily properties in Austell, GA and Douglasville, GA. The loans were originated by Rob Russell of Greystone.
The loans, provided to InterCapital Group, LLC, carry a 10-year term with 3 years of interest-only and a low fixed interest rate. Forest Glen Apartments in Austell, GA was acquired for $14,960,000. Home Ridge Apartments and Stewart’s Mill Apartments, both located in Douglasville, GA, were acquired for $9,822,000 and $11,330,000, respectively.
Forest Glen Apartments comprise 264 units over 26.4 acres; Home Ridge Apartments include 200 units over 25 acres; and Stewart’s Mill Apartments comprise 188 units over 18.8 acres.
“We look forward to growing our relationship with InterCapital and helping them meet the growth and acquisition goals of their expanding portfolio through providing tailored financing solutions,” said Joe Mosley, Executive Managing Director and head of agency lending at Greystone.