Greystone’s West Coast Origination Platform Closes $46.5 Million in Multifamily Lending
October 14, 2014
Western Financing Hub Applies Fannie Mae Delegated Underwriting and Servicing (DUS®) Program for Significant Unique Transactions
Greystone announced it has funded several large loans through its recently expanded West Coast operations team. Spanning a growing presence from Seattle to San Diego, Greystone has served as an integral finance partner to an increasing number of commercial property owners in today’s low-rate environment that is optimal for refinance or acquisitions.
Recent transactions Greystone’s Tim Thompson of its San Francisco office originated under the Fannie Mae Delegated Underwriting and Servicing (DUS®) program include:
• $23.4 million loan to refinance a sprawling 90-unit complex – one of the largest in Sausalito, CA – with bay views, landscaped terraces and pool. The 12-year loan featured five interest-only years.
• $10.4 million, 10-year loan to refinance a Class A multifamily project in Mountain View, CA with a very unique ownership structure.
• $12.7 million, 10-year acquisition loan of a Class A multifamily property in Goodyear, AZ, which was the first real estate venture for the borrower in that state.
“Greystone’s capability to uniquely serve property owners on the West Coast has been growing steadily over the last few years,” said Tim Thompson, managing director and head of Greystone’s San Francisco office. “With our ever-increasing platform of lending products to match our seasoned, creative lending professionals, we are poised to address the unique needs of multifamily owners in this region.”