Greystone Closes $59.3 Million in Fannie Mae Financing for Texas Multifamily Portfolio
March 28, 2014
Greystone announced it provided financing for five multifamily properties in the Austin and Dallas-Fort Worth Metroplex areas, totaling $59.3 million. Originated by Robert Russell, head of production for Greystone’s CMBS platform, the financing was provided through the Fannie Mae DUS platform.
Greystone closed the financing, which includes 10-year terms and 80% LTV, in two pools. The properties acquired, which total approximately 1,442 units combined, include:
–Cypress Club in Arlington, TX
–Windsprint Apartments in Arlington, TX
–Hunters Cove in Grand Prairie, TX
–Arbors of Austin in Austin, TX
–Northgate Hills in Austin, TX
“The success of this transaction demonstrates Greystone’s capabilities in closing the most beneficial financing for borrowers while being able to address and satisfy their ancillary financial needs as well,” said Joe Mosley, Executive Vice President and Head of Agency Production at Greystone. “Our goal is to serve as a one-stop-shop for multifamily and healthcare owners who are constantly navigating a complex lending environment and enable them to grow and reposition their portfolios,” he added.
Greystone provides mortgage finance solutions across multiple platforms, including FHA, Fannie Mae, Freddie Mac, USDA, CMBS, bridge, mezzanine and other proprietary loan programs. In 2013, Greystone was ranked #1 in combined multifamily and healthcare FHA lending, #3 in Affordable Housing as a Fannie Mae DUS lender in 2013, and is a top-5 Freddie Mac lender for seniors housing.