The non-recourse $9,005,000 Fannie Mae loan carries a 12-year term, a fixed interest rate, four years of interest-only payments, and a 30-year amortization period. Knox on 12th Apartments completed construction in 2020 and leased up rapidly. It is a mid-rise two-building property offering one- and two–bedroom units with modern appliances and finishes, in-unit washers and dryers, walk-in closets and private outdoor spaces. The pet-friendly property also offers 24-hour secure access and on-site parking. The property is conveniently located near the area’s shopping, entertainment and dining establishments, and is close to major arteries that lead to I-15 and Salt Lake City.
“We are committed to serving our clients well – whether it’s their first time working with us or if they have been with Greystone for decades, we want to help bring the vision for their properties to life,” said Ms. Hanson. “Greystone has deep experience and knowledge in the multifamily space that few can match, and our extensive lending platform can meet clients’ needs across the capital stack.”
“The caliber of our Greystone team was second to none. Greystone is committed to making our experience as seamless as possible and we look forward to many successful closings in the future,” said Johnny Clawson, principal of Knox on 12th Street, LLC.
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
