The Parks at Treepoint & Post Oak Place Apartments
Lending - Fannie Mae - $51.6M
Greystone provided $51,597,000 in Fannie Mae DUS® loans for the acquisition of two large multifamily properties in Arlington, TX and Euless, TX. The loans were originated by Rob Russell of Greystone.
InterCapital Group, LLC based in Houston, TX acquired The Parks at Treepoint located in Arlington, TX for $33 million, and Post Oak Place in Euless, TX for $18.6 million. The terms of the 10-year Fannie Mae DUS® loans include 3 years interest-only at a low fixed interest rate. The Parks at Treepoint consists of 586 units over 29.5 acres, and Post Oak Place covers 11.1 acres with over 350 units. The Parks at Treepoint offers one-, two- and three-bedroom apartments with numerous community amenities, while Post Oak Apartments includes one- and two-bedroom floorplans.
“We are pleased that the Fannie Mae DUS® product proved to be the right solution for InterCapital and that we were able to help them meet their hard purchase date,” said Joe Mosley, Executive Managing Director and head of agency lending at Greystone. “The DUS loan platform allows us to simplify the loan process so that we can provide that high level of personal service.”