Greystone Executes $15 Million Fannie Mae DUS® Exit on Bridge Loan for Apartment Community in Atlanta, GA
July 21, 2016
Greystone announced it has provided a $15,150,000 Fannie Mae Delegated Underwriting and Servicing (DUS®) loan to refinance Bedford Park Apartments in Atlanta, GA. Greystone provided a Bridge loan, originated by Keith Hires of Greystone’s Atlanta office on behalf of Bedford Park Partners in 2014 for the acquisition of the property.
The 7-year adjustable rate Fannie Mae loan for Bedford Park includes a 30-year amortization. Bedford Park Apartments, in close proximity to Interstate 85, comprises 272 1-, 2-, and 3-bedroom units with community amenities including swimming pool and playground.
“We’ve been fortunate to have provided Bedford Park Partners with a Freddie Mac Small Balance Loan, a Freddie Mac Affordable loan, a Bridge loan to acquire this particular property, and now, a Fannie Mae DUS loan for permanent financing, allowing us the opportunity to flex a variety of Greystone’s commercial lending muscles,” said Joe Mosley, Executive Managing Director and head of Agency lending at Greystone. “We appreciate their confidence in us as a lender,” he added.