Greystone Provides $10.8 Million in Fannie Mae DUS Financing for Minneapolis Multifamily Acquisition
November 7, 2019
Category: Fannie Mae, Multifamily
Greystone announced it has provided a $10.8 million Fannie Mae Delegated Underwriting and Servicing (DUS®) loan for the purchase of Brunsfield North Loop, a multifamily property in Minneapolis, Minnesota. The loan was originated by Kyle Jemtrud, on behalf of Phoenix – North Loop, LLC, with Abe Roberts of Marcus & Millichap acting as a correspondent.
The $10,800,000 Fannie Mae DUS loan carries a 10-year fixed-rate loan and 30-year amortization. Brunsfield North Loop is a multifamily property with 47 apartment units and 5,842 sf of ground-floor commercial space.
Built in 2013, Brunsfield North Loop is located in Hennepin County, Minnesota. The property provides its tenants with garage and open parking spaces, and offers on-site amenities including a community room, business center, fitness area, leasing office, bike storage, outdoor patio, grilling area, and coffee shop on its ground floor.
“We are thrilled to have worked alongside the borrower,” said Kyle Jemtrud. “Greystone continues to prove itself as a dedicated finance provider, and we feel privileged to contribute to the growth and success of our client’s real estate portfolio.”