Lending - Fannie Mae - $37M
Greystone provided a $37,000,000 Fannie Mae Delegated Underwriting and Servicing (DUS) loan to refinance The Henry in Tacoma, WA. The loan was originated by Tom Meunier of Greystone’s Newport Beach, CA office.
The Henry’s refinance replaces a previous Fannie Mae DUS 7/6 ARM loan provided by Greystone in 2016. This allowed the borrowing entity time to apply for and obtain its Green Globes for New Construction certification, in order to obtain long-term fixed rate financing for the property.
The Henry is a newly-constructed Class-A mid-rise building comprising 161 residential units with six floors. Offering ground-level commercial space, the property is ideally situated along the Tacoma Foss Waterway with convenient access to the area’s restaurants, museums and shopping. The Henry’s amenities include a resident lounge, fitness center, picnic area/courtyard, and dog park.
“As a newly-constructed property, once The Henry received its green certification, it qualified for new loan incentives from Fannie Mae – including lower, long-term fixed rates which provided greater loan proceeds. In addition, the building’s energy efficient systems are a direct benefit for the tenants,” said Tom Meunier.