Greystone Refinances West Virginia Multifamily Property for $11.4 Million
May 28, 2014
Culloden’s Hidden Brook Apartments Obtains Financing Under Greystone’s Fannie Mae DUS® Program
Greystone announced it provided $11,415,000 to refinance Hidden Brook Apartments in Culloden, West Virginia. Originated by Andrew Ellis in Greystone’s Rockville, MD office, the loan was delivered under the Fannie Mae Delegated Underwriting and Servicing (DUS®) program.
The loan terms include 10-year fixed-rate financing with 30-year amortization. Hidden Brook Apartments is a 168-unit property comprising 82 townhomes and 86 garden-style apartments constructed in four phases from 2008 through 2013.
“Greystone’s expertise in underwriting and financing multifamily properties such as Hidden Brook Apartments make our lending services a particularly great match for Charleston-area multifamily owners,” said Joe Mosley, Executive Vice President and Head of Agency Production at Greystone. “The rental market here remains strong, and owners can take advantage of continued favorable terms for multifamily lending,” 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 ranked #1 in combined multifamily and healthcare FHA lending, #3 in Affordable Housing as a Fannie Mae DUS lender, and as a top-5 Freddie Mac lender for seniors housing.