The non-recourse, fixed-rate Fannie Mae loans all carry 10-year terms and are interest-only for the duration of the loans. The financing includes loans for the following properties:
- The Westside Off Broadway, a 45-unit property with an $11,420,000 loan;
- Capitol Court, a 44-unit property with a $6,670,000 loan;
- Belgrove Court, a 60-unit property with a $10,004,000 loan; and
- Lake Union Tower and Interlake Place, two properties comprising 51 units, with $9,480,000 in financing.
“It’s been a pleasure working with Tim Walker, Ian Poll, and Ron Rudy, as well as Mark, on this value-add refinance, enabling the borrowers to extract the properties’ increased value and increase their cash flow,” said Ms. Hanson.
“Lorie and her team did a great job. Their product Knowledge and familiarity with the Seattle market was invaluable,” said Ron Rudy, key principal of the borrower.
About Greystone
Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com.
PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com
