Affinity
NEW YORK, Aug. 26, 2021 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, has provided a $51,470,000 Fannie Mae Delegated Underwriting and Servicing (DUS®) loan to refinance a multifamily property in Tampa, Florida. The financing was originated by Kyle Jemtrud, Managing Director at Greystone, with Largo Capital’s Orlando office team as correspondent.
The non-recourse $51,470,000 Fannie Mae loan carries a 12-year term, a fixed interest rate, five years of interest-only payments, and a 30-year amortization period. Built in 2020, Affinity, offers one- two- and three-bedroom apartments across five buildings. Amenities at the property include a 24-hour fitness studio, resort style pool area with firepits and grills, game room, and coffee bar.
“We were thrilled to help the borrower secure long-term financing with Fannie Mae and play a role in setting this property up for success in the growing Tampa market,” said Mr. Jemtrud. “When it comes to multifamily lending, our expertise runs deep and our ability to execute is unparalleled.”
“Greystone’s guidance in navigating the changes in terms and requirements, as well as Kyle’s local market knowledge, has been invaluable during this process,” said Michael Wright, President, MMI Development of Orlando.
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
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