Greystone Provides $17 Million in Fannie Mae Financing for Two Apartment Communities in Tucson, Arizona
January 23, 2018
Greystone announced it provided a total of $17 million in Fannie Mae refinancing for two multifamily properties in Tucson, Arizona owned by HSL Properties, one of the largest multifamily owners and operators in southern Arizona. The transaction was originated by Daniel Wolins, Managing Director at Greystone.
Greystone provided $9 million in Fannie Mae refinancing for Brittany Court, a 160-unit multifamily project. A cross between big city conveniences and quiet country living, Brittany Court offers spacious one- and two-bedroom apartments. The complex features a clubhouse, fitness center, pool, spa, and BBQ area.
For Tanglewood, a 184-unit multifamily property, Greystone provided $8.025 million in Fannie Mae financing. Tanglewood features one- and two-bedroom homes, along with a clubhouse, playground, pool, spa, basketball court, and BBQ area.
Both 10-year loans have 30-year amortization and are a part of Fannie Mae Multifamily’s Green Rewards program, which provides lower pricing, additional loan proceeds, and an “Energy and Water Audit Report” to finance smarter, greener property improvements.
“We are excited to build an ongoing partnership with HSL Properties,” said Mr. Wolins. “Because of our relationship with Fannie Mae, we were able to secure the refinancing for these two properties which are expanding the multi-family offerings in the Tucson area.”
“Greystone provided a wonderful execution for the refinancing of Tanglewood and Brittany Court, and we look forward to working with them again in the future,” said Omar Mireles, President, HSL Properties.