Term Sheets

FHA

Healthcare
Highlights:
ELIGIBLE PROPERTIES

Licensed Nursing Homes, Assisted Living, Intermediate Care, and Board and Care
a) Must provide continuous protective oversight
b) Must offer three meals per day
c) Facility must be licensed by state
d) Non-resident day care not to exceed 20% of gross area and 20% of gross income
e) May include up to 25% non-licensed independent living units
f) Three years must have passed since last certificate of occupancy was issued

Highlights:
ELIGIBLE PROPERTIES

Multifamily and healthcare properties that currently have FHA insured loans

Highlights:
ELIGIBLE PROPERTIES

Licensed Nursing Homes, Assisted Living, Intermediate Care, and Board and Care
a) Must provide continuous protective oversight
b) Must offer three meals per day
c) Facility must be licensed by state
d) Non-resident day care not to exceed 20% of gross area and 20% of gross income
e) May include up to 25% non-licensed independent living units

Highlights:
Eligible Properties

Multifamily and healthcare properties that currently have FHA-insured loans with a Greystone company listed as the Mortgagee


Multifamily
Highlights:
Eligible Properties

Market rate properties of any class, cooperatives, affordable or subsidized housing. Construction or any substantial
rehabilitation must have been completed at least three years before application to HUD. Student housing is
allowable, but cash flows cannot assume multiple rents from one unit and rents must be in line with market rate
multifamily comparables.

Highlights:
ELIGIBLE PROPERTIES

Multifamily and healthcare properties that currently have FHA insured loans

Highlights:
Eligible Properties

Market rate, low-to-moderate income and subsidized multifamily properties.

Highlights:
Eligible Properties

Multifamily and healthcare properties that currently have FHA-insured loans with a Greystone company listed as the Mortgagee


Freddie Mac

Multifamily
Highlights:
Description

Offers short-term, cost-effective financing for modest property upgrades. Borrowers receive competitive pricing and lower execution costs. Options for both interest-only and uncapped floating-rate loans are available. This loan is non-recourse and provides “one-stop” shopping” for upgrade and permanent financing.

Highlights:
Description

For refinancing or acquiring newly constructed properties

Highlights:
Description

Bond credit enhancement for multifamily properties with new 4% Low-Income Housing Tax Credit (LIHTC). Transactions can be structured as a forward commitment for new construction or substantial rehabilitations, or as an immediate funding for tenant-in-place rehabilitation. All eligible transactions must have at least 7 years remaining of the initial 10-year tax credit period.

Affordability Requirements

Low-income qualifying restrictions; 20% or more units rented to families earning at or below 50% of Area Median Income (AMI), or 40% or more units rented to families earning at or below 60% of AMI; however, other affordability types will be considered.

Loan Purpose

Forward Commitment, Immediate Funding or Preservation Rehabilitation, for new construction or substantial rehabilitation

Loan Terms

For LIHTC transactions, the minimum term is equal to the lesser of the remaining LIHTC period (as long as there are at least 7 years remaining in the initial tax credit benefit period) or 15 years and the maximum term is 30 years. Maximum Amortization is 35 years.

Highlights:
DESCRIPTION

Financing for the acquisition or refinance of small balance loans, offering partial-term and full-term interest-only

Benefits

  • Streamlined processes during pricing, underwriting, closing, and funding
  • Streamlined loan documents
  • Markets nationwide
LOAN AMOUNT

$1 million to $5 million

LOAN TERM

20-year hybrid ARM with initial 5-, 7-, or 10-year fixed rate period; 5-, 7-, or 10-year fixed rate loan

Highlights:
DESCRIPTION

Non-recourse, assumable fixed rate financing for the acquisition or refinance of stabilized multifamily rental or cooperative properties.

LOAN AMOUNT

Generally $5 million to $100 million (larger and smaller loans will be considered)

LOAN TERM

5-, 7-, and 10-year terms (up to 30 years if loan is not purchased for securitization)

Highlights:
DESCRIPTION

Non-recourse, assumable float-rate financing for the acquisition or refinance of stabilized multifamily rental properties. Floating-rate loans are not available for cooperative housing.

LOAN AMOUNT

Generally $5 million to $100 million (larger and smaller loans will be considered)

LOAN TERM

5-, 7-, and 10-year terms (up to 30 years if loan is not purchased for securitization)

Highlights:
DESCRIPTION

Non-recourse, assumable fixed-rate and floating-rate supplemental financing for stabilized multifamily properties. Cooperative properties are considered on a case-by-case basis.

SPLIT SUPPLEMENTAL LOAN
  • A supplemental loan placed at the same time as a newly originated Freddie Mac first loan.
  • Loans related to individual mortgages to be purchased through the Conventional Cash Mortgage Purchase Program, Targeted Affordable Housing Cash Mortgage Purchase Program, and conventional structured transactions that are not scheduled for securitization.
SEASONED SUPPLEMENTAL LOAN
  • A supplemental loan placed at least 12 months after origination of the first loan or the previous supplemental loan. More than one seasoned supplemental loan is permitted.
  • Loans behind existing first loans in good standing and purchased through the Conventional Cash Mortgage Purchase Program, Targeted Affordable Housing Cash Mortgage Purchase Program, and conventional structured transactions.
  • Prior loans (first loans and any prior supplemental loans in place) must have remaining terms of 3 years or more.
LOAN AMOUNT

Minimum $1 million

LOAN TERM

Split Supplemental: Coterminous with first loan; 30-year maximum

Seasoned: Coterminous with first loan or may exceed first loan by up to 24 months

Highlights:
DESCRIPTION

Forward Commitments or Immediate financing for the acquisition or refinance of affordable multifamily properties with 4% Low Income Housing Tax Credits (LIHTC) with at least 7 years remaining in the tax credit benefit period.

AFFORDABILITY REQUIREMENTS

Low-income qualifying restrictions. 20% or more units rented to families earning at or below 50% of Area Median Income (AMI), or 40% or more units rented to families earning at or below 60% of AMI. However, other affordability types will be considered. (May include bond refunding, substitution, or new issue transactions with 80/20 bonds, combination bonds, Section 8, Section 236 tax abatements, and LIHTC.)

LOAN AMOUNT

Minimum $3 million

LOAN TERM

For LIHTC transactions, the minimum term is equal to the lesser of the remaining LIHTC period (as long as there are at least 7 years remaining in the initial tax credit benefit period) or 15 years and the maximum term is 18 years.

Highlights:
DESCRIPTION

Non-recourse, assumable financing for the acquisition or refinance of stabilized manufactured housing communities (MHCs), with or without age restrictions. (Note: Seniors Housing Loans are not available with MHC loans.)

LOAN AMOUNT

Minimum $1 million

LOAN TERM

5 to 10 years.

 

Highlights:
DESCRIPTION

Offers a flexible liquidity source for properties undergoing significant renovation. Highly customized solutions for borrowers experienced in completing moderate rehabilitation deals. Allows for a wide variation in borrower term and structure needs.

ELIGIBLE PROPERTY TYPES
  • $25,000 – $50,000 in renovations per unit with a minimum of $7,500 per unit designated for interior work.
  • Minimum occupancy: rehabilitation plan may not take debt service coverage ratio below 1.0x on an interest-only basis.
LOAN STRUCTURES
  • Float-to-fixed. Conversion: fixed-rate after initial floating period; note rate to be determined at loan origination. (Note: varying combinations of fixed- and floating-structures will be considered on a case-specific basis.)
  • Interest-only during renovation
  • Hedge: Uncapped during renovation; cap required post-renovation if not converted to fixed-rate.

Seniors Housing & Healthcare
Highlights:
Freddie Mac Seniors Housing Program

Non-recourse, assumable financing for the acquisition or refinance of stabilized independent living (IL) and assisted living (AL) properties; Properties that assist residents with memory care (MC) are eligible for financing under Freddie Mac’s Seniors Housing Program; Communities must have achieved and sustained at least an average of 90% occupancy for the preceding 90 days; Newly constructed and stabilized Senior Housing facilities, as well as campuses containing skilled nursing beds, are also eligible for Freddie Mac’s Senior Housing program on a case-by-case basis; Buildings must be fully sprinklered; at least 80% of the beds must be private pay unless a waiver is granted; Buy-In and rental Continuing Care Retirement Communities (CCRC’s) are eligible on a case-by-case basis.

LOAN AMOUNT

Minimum $5,000,000, with exceptions on a case-by-case basis; Supplemental Loans are available under the Freddie Mac Seniors Housing Program

LOAN TERM

5-15 years; up to 30 years amortization


Affordable Housing
Highlights:
Description

Streamlined underwriting for Optigo loans, for long-term fixed rate financing for the aquisition or refinance of small
stabilized multifamily rental properties with rent and income restrictions, and/or Section 8 HAP contracts. An option
for a faster, simpler loan process.

Highlights:
Description

Optigo loans for affordable multifamily properties with 9% Low-Income Housing Tax Credits (LIHTCs). Transactions
can be structured as a forward commitment for new construction or substantial rehabilitations, or as an immediate
funding for tenant-in-place rehabilitation.

Highlights:
Description

Bond credit enhancement for multifamily properties with new 4% Low-Income Housing Tax Credit (LIHTC). Transactions can be structured as a forward commitment for new construction or substantial rehabilitations, or as an immediate funding for tenant-in-place rehabilitation. All eligible transactions must have at least 7 years remaining of the initial 10-year tax credit period.

Affordability Requirements

Low-income qualifying restrictions; 20% or more units rented to families earning at or below 50% of Area Median Income (AMI), or 40% or more units rented to families earning at or below 60% of AMI; however, other affordability types will be considered.

Loan Purpose

Forward Commitment, Immediate Funding or Preservation Rehabilitation, for new construction or substantial rehabilitation

Loan Terms

For LIHTC transactions, the minimum term is equal to the lesser of the remaining LIHTC period (as long as there are at least 7 years remaining in the initial tax credit benefit period) or 15 years and the maximum term is 30 years. Maximum Amortization is 35 years.

Highlights:
Bond Credit Enhancement – 4% LIHTC 9% LIHTC
Description Bond Credit Enhancements provide for the moderate rehabilitation with tenants in place of affordable multifamily properties with 4% LIHTC. Financing for the moderate rehabilitation with tenants in place of affordable multifamily properties with 9% LIHTC.
Type of funding Bond Credit Enhancements provide for the moderate rehabilitation with tenants in place of affordable multifamily properties with 4% LIHTC for the acquisition or refinance of stabilized affordable multifamily properties. Financing for acquisition/rehabilitation (max 24 months); based on projected post-rehab NOI; cash or letter of credit collateral required to fund gap between supportable debt on current NOI and mortgage amount (collateral held until stabilization); Interest only during the rehabilitation/stabilization period.
Eligible properties Garden, mid-rise or high-rise multifamily properties with 4% LIHTC undergoing moderate rehabilitation with tenants in place. Garden, mid-rise or high-rise multifamily properties with 9% LIHTC that are undergoing moderate rehabilitation with tenants in place.
Loan term Minimum of the remaining LIHTC compliance period. Maximum term of 35 years. Rehabilitation/stabilization period (max 24 months) will be included in loan term. Minimum of the remaining LIHTC compliance period. Maximum term of 35 years. Rehabilitation/stabilization period (max 24 months) will be included in loan term.

*Additional adjustments may be required based upon property, market and other transaction characteristics.

Highlights:
DESCRIPTION

Permanent financing for the acquisition or refinance of stabilized affordable multifamily properties.

AFFORDABILITY REQUIREMENTS

Low-income qualifying restrictions. 20% or more units rented to families earning at or below 50% of Area Median Income (AMI), or 40% or more units rented to families earning at or below 60% of AMI. However, other affordability types will be considered.

LOAN AMOUNT

Minimum $3 million

LOAN TERM

7 to 30 years.


Additional
Highlights:
Description

When you commit to reducing energy or water (by at least 30%, with a minimum 15% from energy), you can get
better pricing and more funding through the Green Up and Green Up Plus progams. If your property is already green
certified, see what the Green Certified, Green Rebate, and C-PACE programs can do you for your property.

Highlights:
DESCRIPTION

Financing for the acquisition or refinance of purpose-built student housing. May consider shorter student lease terms and combined student body of multiple schools to meet eligibility requirements.

ELIGIBLE PROPERTIES
  • Purpose-built student housing properties. Must have a minimum of one bathroom for every two bedrooms, and each apartment must have a separate full kitchen.
  • Stabilized garden, mid-rise, and high-rise apartment properties that are greater than 50% occupied by student tenants.
  • Supporting college/university has 8,000 or more students. (Student housing properties located within close proximity to multiple schools that have a combined student body of 8,000 students or more will be considered.)
  • Property is located less than two miles from college/university or on a public transportation route.
LOAN AMOUNT

Generally $5 million to $100 million (larger and smaller loans will be considered)

LOAN TERM

5 to 10 years (up to 30 years for fixed-rate loans if loan is not purchased for securitization).


Fannie Mae

Multifamily
Highlights:
Description

Provides lower pricing, additional loan proceeds, and a free Energy and Water Audit Report to finance smarter,
greener property improvements. Eligible improvements include new ENERGY STAR® appliances, energy efficient
HVACs, low-flow toilets, LED Lighting, and more.

Benefits

Lower interest rate, free energy and water audit report, up to 5% more loan proceeds, increased net cash flow by
underwriting projected energy and water cost savings, no minimum investment per unit, attract more investors with
the market’s only Green MBS.

Eligibility

All Asset Classes (excluding Manufactured Housing Communities) with at least 12 months of Stabilized Residential
Occupancy; a Manufactured Housing Community is not eligible. Property owner must commit to property
improvements that are projected to reduce the whole property’s annual energy and/or water usage by at least 30%,
of which a minimum of 15% must be attributable to projected savings in energy consumption. Improvements must be
installed within 12 months of loan origination. Properties may be located anywhere in the U.S. Only Green Rewards
loans that are projecting greater than 5% additional loan proceeds are Pre-Review.

Highlights:
Description

Fannie Mae’s Hybrid ARM offers small loan borrowers flexible, long-term financing with attractive prepayment
options, and competitive pricing.

Asset Classes

Conventional Small Mortgage Loans and Manufactured Housing Communities

Loan Amount

Up to $6 million in all markets

Highlights:
Description

Non-recourse, assumable financing for the acquisition or refinance of any asset class with planned capital
improvements in excess of $8,000 per unit for the entire property.

Highlights:
Description

Permanent mortgage loan financing for newly constructed or recently renovated conventional and affordable
multifamily apartment communities expected to achieve stabilized occupancy within 120 days

Eligibility

• Conventional and Multifamily Affordable Housing Properties
• Partially leased, newly constructed or recently renovated communities
• Strong borrowers with demonstrated lease-up track record
• Properties in Strong and Nationwide markets

Highlights:
DESCRIPTION

Non-recourse, supplemental financing available on existing, fixed or floating, stabilized DUS Conventional properties, Multifamily Affordable Housing Properties, Seniors Housing Properties, Student Housing Properties, and Manufactured Housing Communities loans serviced by Greystone as a property’s value and income stream increase. Bond Credit Enhancement transactions are eligible with prior approval of Fannie Mae. Fannie Mae must be the only debt holder on the property.

LOAN TERM

Supplemental loans can be coterminous or non-coterminous; 5-30 years.

LOAN TIMING

Supplemental Loans are available 12 months after the closing of the senior Fannie Mae Mortgage Loan.

Highlights:
DESCRIPTION

Fannie Mae’s Multifamily Mortgage Business offers long term financing with a very competitive variable interest rate that is convertible to a fixed rate.

Benefits:

  • Attractive low-cost financing
  • Convertible to fixed-rate financing
  • Flexible prepayment options
  • Ability to choose interest rate cap

Eligibility:

  • Existing, stabilized multifamily properties, including: Conventional, Multifamily Affordable Housing. Seniors Housing, Student Housing, and Manufactured Housing Communities. Moderate Rehabilitation Loans may be eligible on a case-by-case basis
  • Credit Enhancements and Substantial Rehabilitation are not eligible
  • Loans of $25 million or more
  • Loans for acquisition or refinance
LOAN TERM

5, 7, or 10 years

Highlights:
DESCRIPTION

Streamlined fixed rate and variable rate financing for multifamily, manufactured housing and cooperative properties up to $6 million

LOAN AMOUNT

Up to $6 million in all markets.

LOAN TERM

5, 7, 10, 12, 15, 18 and 30 year fixed and variable-rate terms.

Highlights:
DESCRIPTION

Non-recourse, fixed and adjustable rate financing for the acquisition or refinance of stabilized manufactured home communities where the Borrower owns the Manufactured Housing Community (MHC) sites and associated common amenities and infrastructure, and leases the individual pad sites to the owners of the manufactured homes.

LOAN AMOUNT

Minimum $1 million

LOAN TERM

5 – 30 years

Highlights:
DESCRIPTION

Non-recourse, assumable fixed rate financing for the acquisition or refinance of stabilized multifamily rental or cooperative properties.

LOAN AMOUNT

Minimum $3 million

LOAN TERM

5-, 7-, 10-, or 15-year balloon; 20-, 25-, or 30-year fully amortizing.

Highlights:
DESCRIPTION

Fannie Mae provides credit enhancement for tax-exempt multifamily housing revenue bonds that have low- and moderate-income occupancy restrictions. Fixed rate bonds can be enhanced. Enhancement is rated AA, and can be used in either a new bond issuance, “Refunding,” or a “Credit Substitution.”

LOAN AMOUNT

Minimum $3 million

LOAN TERM

10 to 30 years.


Seniors Housing & Healthcare
Highlights:
Description

Provides lower pricing, additional loan proceeds, and a free Energy and Water Audit Report to finance smarter,
greener property improvements. Eligible improvements include new ENERGY STAR® appliances, energy efficient
HVACs, low-flow toilets, LED Lighting, and more.

Benefits

Lower interest rate, free energy and water audit report, up to 5% more loan proceeds, increased net cash flow by
underwriting projected energy and water cost savings, no minimum investment per unit, attract more investors with
the market’s only Green MBS.

Eligibility

All Asset Classes (excluding Manufactured Housing Communities) with at least 12 months of Stabilized Residential
Occupancy; a Manufactured Housing Community is not eligible. Property owner must commit to property
improvements that are projected to reduce the whole property’s annual energy and/or water usage by at least 30%,
of which a minimum of 15% must be attributable to projected savings in energy consumption. Improvements must be
installed within 12 months of loan origination. Properties may be located anywhere in the U.S. Only Green Rewards
loans that are projecting greater than 5% additional loan proceeds are Pre-Review.

Highlights:
DESCRIPTION

Non-recourse, assumable financing for the acquisition or refinance of stabilized independent living (IL) and assisted
living (AL) properties; Properties that assist residents with memory care (MC) are eligible for financing under
Fannie Mae’s Seniors Housing Program; Properties should have achieved and sustained at least an average of
90% occupancy for the preceding 90 days; Newly constructed and stabilized Senior Housing properties, as well as
campuses containing skilled nursing beds, are eligible for financing under Fannie Mae’s Senior Housing program,
on a case-by-case basis; Buildings must be fully sprinklered; At least 80% of the beds must be private pay unless a
waiver is granted; Buy-In and Rental Continuing Care Retirement Communities (CCRC’s) are also eligible, on a caseby-
case basis

LOAN AMOUNT

Minimum $5 million, with exceptions on a case-by-case basis; Supplemental Loans are available under the Fannie Mae Seniors Housing Program

LOAN TERM

5-, 7-, 10-, 15-, or 18-year balloons; 20-, 25-, and 30-year fully amortizing


Affordable Housing
Highlights:
Description

Streamlined underwriting for long-term fixed rate financing for the acquisition or refinance of stabilized multifamily rental properties with rent and income restrictions, and/or Section 8 HAP Contracts

Loan Amount

$1,000,000 – $5,000,000 in Baltimore, Boston, Chicago, Los Angeles, New York, Philadelphia, Portland, Sacramento, San Diego, San Francisco, San Jose, Seattle and Washington DC. $1,000,000 – $3,000,000 in all other markets.

Loan Term

7 to 30 years

Highlights:
Description

Provides lower pricing, additional loan proceeds, and a free Energy and Water Audit Report to finance smarter,
greener property improvements. Eligible improvements include new ENERGY STAR® appliances, energy efficient
HVACs, low-flow toilets, LED Lighting, and more.

Benefits

Lower interest rate, free energy and water audit report, up to 5% more loan proceeds, increased net cash flow by
underwriting projected energy and water cost savings, no minimum investment per unit, attract more investors with
the market’s only Green MBS.

Eligibility

All Asset Classes (excluding Manufactured Housing Communities) with at least 12 months of Stabilized Residential
Occupancy; a Manufactured Housing Community is not eligible. Property owner must commit to property
improvements that are projected to reduce the whole property’s annual energy and/or water usage by at least 30%,
of which a minimum of 15% must be attributable to projected savings in energy consumption. Improvements must be
installed within 12 months of loan origination. Properties may be located anywhere in the U.S. Only Green Rewards
loans that are projecting greater than 5% additional loan proceeds are Pre-Review.

Highlights:
DESCRIPTION

Non-recourse, fixed rate financing for the acquisition or refinance of stabilized multifamily rental properties that meet Fannie Mae’s definition of Affordable Housing.

AFFORDABILITY REQUIREMENTS

An MAH Property must have rent, income and/or occupancy restrictions that meet or exceed one of the following requirements:

  • “20% @ 50%”: at least 20% of all units have rent or income restrictions in place such that the rents charged for those units are affordable to households earning no more than 50% of Area Median Income (AMI) as adjusted for family size; or
  • “40% @ 60%”: at least 40% of all units have rent or income restrictions in place such that the rents charged for those units are affordable to households earning no more than 60% of AMI as adjusted for family size.
  • Section 8 Housing Assistance Payment (HAP) contract: at least 20% of all units are subject to a project-based HAP contract; or
  • Special Public Purpose: the Property (i) has other rent and/or income restrictions, and (ii) meets a noteworthy special public purpose. Such a Property may be considered on a waiver basis for eligibility as an MAH Property.
LOAN AMOUNT

Minimum $1 million

LOAN TERM

7 to 30 years.

Highlights:
DESCRIPTION

Fannie Mae provides a 24- to 30-month forward commitment with or without rate lock prior to delivery of the
permanent loan

PROPERTY TYPE

Multifamily; new construction and rehabilitation.

LOAN AMOUNT

Minimum $1 million

LOAN TERM

Up to 30 years


Additional
Highlights:
DESCRIPTION

Non-recourse, fixed and adjustable rate financing for the acquisition or refinance of stabilized Student Housing properties where greater than 40% of the units are leased to undergraduate or graduate students.

LOAN AMOUNT

Minimum $3 million

LOAN TERM

5-30 years


CMBS

Additional
Highlights:
Description

Non-recourse, assumable subordinate financing for the acquisition or refinance of stabilized multifamily, retail, office, hotel, industrial, and self-storage properties financed simultaneously with Greystone CMBS mortgage loans.

Loan Amount

$500,000 – $5,000,000

Highlights:
DESCRIPTION

Non-recourse, assumable fixed rate financing for the acquisition or refinance of stabilized multifamily, retail, office, hotel, industrial, and self storage properties.

LOAN AMOUNT

Minimum $5 million

LOAN TERM

5- to 10-year balloon; 15-year fully amortizing, interest only periods are available.


Bridge / Mezzanine

Healthcare
Highlights:
ADVANTAGES

• “One-Stop Shop” if you are looking for FHA or Agency permanent debt but need short-term bridge financing
• Fast closing to facilitate purchase or maturing existing debt
• No exit fee if permanent financing originated via Greystone
• Savings on fees and closing expenses

ELIGIBLE PROPERTIES

Independent living, assisted living, memory care and skilled nursing properties

LOAN AMOUNT

$5 million to $75 million (larger upon request)

LOAN TERM

Generally, loans with terms up to 36 months (including extensions).


Multifamily
Highlights:
Description

Non-recourse, assumable subordinate financing for the acquisition or refinance of stabilized multifamily, retail, office, hotel, industrial, and self-storage properties financed simultaneously with Greystone CMBS mortgage loans.

Loan Amount

$500,000 – $5,000,000

Highlights:
LOAN PURPOSE

This program is specifically designed for properties that are either stabilized or are in need of minor to moderate
renovation or other value-add strategy.

Our bridge loan program can be used to finance stabilized properties while Greystone underwrites the permanent
financing or fund moderate rehabilitation or retenanting where the Borrower requires to complete a value add
strategy before securing permanent financing through an FHA, Fannie Mae, and Freddie Mac execution.

ELIGIBLE PROPERTIES

Multifamily and manufactured housing communities

LOAN AMOUNT

$7.5 million to $75 million (larger upon request)

LOAN TERM

Typically up to 3 years (including extensions)


Additional
Highlights:
LOAN PURPOSE

This program is specifically designed for properties that are either stabilized or are in need of minor to moderate
renovation or other value-add strategy where the client needs leverage above a first mortgage bridge loan.

Our short-term mezzanine loan program can be used to finance stabilized properties while Greystone underwrites the
permanent financing or fund moderate rehabilitation or retenanting where the Borrower requires short-term debt to
finance renovations to complete a value add strategy and secure permanent financing through a FHA, Fannie Mae,
and Freddie Mac.

ADVANTAGES

• Excess proceeds if looking for FHA or Agency permanent debt but need short-term mezzanine financing
• Typically combined with a third-party (non-Greystone) first mortgage bridge loan
• No exit fee if financing originated via Greystone’s permanent debt options

LOAN AMOUNT

$1,000,000- $15,000,000 (larger upon request)

Eligible Properties

Multifamily and healthcare (SNF, AL/IL)

Highlights:
Description

A DUS Lender Affiliate (“DLA”) Mezzanine Loan is a subordinate loan funded simultaneously with a newly originated
Greystone Fannie Mae DUS loan (“Senior Mortgage”). The loan is secured by a 100% pledge of the equity interests
in the Borrower. Non-recourse, subordinate financing of multifamily properties.

Loan Amount

$1,000,000 minimum. Senior Mortgage minimum of $10,000,000.

Loan Term

Up to 10-year terms available. Coterminous with the Senior Mortgage

Highlights:
LOAN PURPOSE

This program is specifically designed for properties that are either stabilized or are in need of minor to moderate
renovation or other value-add strategy.

Our bridge loan program can be used to finance stabilized properties while Greystone underwrites the permanent
financing or fund moderate rehabilitation or retenanting where the Borrower requires to complete a value add
strategy before securing permanent financing through an FHA, Fannie Mae, and Freddie Mac execution.

ELIGIBLE PROPERTIES

Multifamily and manufactured housing communities

LOAN AMOUNT

$7.5 million to $75 million (larger upon request)

LOAN TERM

Typically up to 3 years (including extensions)


EB-5