{"id":10120,"date":"2023-12-06T00:28:51","date_gmt":"2023-12-06T06:28:51","guid":{"rendered":"https:\/\/1reason.com\/re\/greystone-provides-15-million-in-fannie-mae-financing-for-multifamily-property-in-san-diego-california\/10120\/"},"modified":"2023-12-06T18:28:51","modified_gmt":"2023-12-07T00:28:51","slug":"greystone-provides-15-million-in-fannie-mae-financing-for-multifamily-property-in-san-diego-california","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/greystone-provides-15-million-in-fannie-mae-financing-for-multifamily-property-in-san-diego-california\/10120\/","title":{"rendered":"Greystone Provides $15 Million in Fannie Mae Financing for\u00a0Multifamily Property in San Diego, California"},"content":{"rendered":"<div> The financing was originated by Tim Thompson, Managing Director at Greystone, on behalf of KSB Development Group.  <\/p>\n<p>Constructed in 2022, <strong>Santa Fe Townhomes <\/strong>in San Diego County offers two-bedroom luxury townhome-style units. The $15,043,000 non-recourse, fixed-rate loan features interest-only payments for its entire five-year term. In addition to refinancing, the loan proceeds will enable the borrower to monetize a portion of their equity in the property.<\/p>\n<p>\u201cWe were able to early rate lock the loan and increase the proceeds by 5% during underwriting as rent collections increased. This was of great value to the client as we were able to take advantage of a dip in the treasury market and take interest rate risk off the table to maximize the loan amount,\u201d said Mr. Thompson.<\/p>\n<p>\u201cOur Greystone team was thoughtful and creative in their approach to structuring a financing solution that would enable us achieve our goals for this property,\u201d said Mr. Majid Mortazavi, principal of the borrower. \u201cTheir attention to detail and understanding of the nuances of this property exceeded our expectations and we look forward to working with them on future projects.\u201d<\/p>\n<p>\u201cClients turn to Greystone because our combination of deep multifamily expertise with an extensive lending platform means we can address their needs across the capital stack,\u201d said Mr. Thompson. \u201cWe aim to facilitate our clients\u2019 financing through every phase of a property\u2019s life cycle, helping them achieve their long-term vision for their entire portfolio.\u201d<\/p>\n<p align=\"justify\"><strong>About Greystone<\/strong><br \/>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 <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=KMuMq5hdDnjf_H2o3jEOn0HSdEGBE8hKS9fNy3cubeCReZdyF-DaX7rlhVxVQF0W3dJtuNrpO_bVXoRHKGutSepcCgXm2durJPVZOvdby-s=\" rel=\"nofollow noopener\" target=\"_blank\" title=\"www.greystone.com\">www.greystone.com<\/a>.<\/p>\n<p align=\"justify\"><strong>PRESS CONTACT:<\/strong><br \/>Karen Marotta<br \/>Greystone<br \/>212-896-9149<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=0w5Ho07cHwDS5JNqjbMsn1RlRXPTzLet-jYhlwAVTEqgE0dtjpiszG4J8Un9Hd2qr7cG3hbdGiAZWp_X-ulE8Nf6-b7Ix5nL33_COj34zDQ=\" rel=\"nofollow noopener\" target=\"_blank\" title=\"Karen.Marotta@greyco.com\">Karen.Marotta@greyco.com<\/a><\/p>\n<p><img src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" data-src=\"https:\/\/ml.globenewswire.com\/media\/MTIzNjJmYTQtOTdmZC00MzNhLWJmOWYtYWYwNWFmNjQyMmI0LTEwMzQ5NDg=\/tiny\/Greystone.png\"><\/div>\n","protected":false},"excerpt":{"rendered":"<div>\n<p align=\"left\">NEW YORK, Nov. 02, 2023 (GLOBE NEWSWIRE) &#8212; Greystone, a leading national commercial real estate finance company, has provided a $15 million Fannie Mae Performance Differentiation loan for a 45-unit multifamily property in Vista, California.<\/p>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/10120"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=10120"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/10120\/revisions"}],"predecessor-version":[{"id":10127,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/10120\/revisions\/10127"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=10120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=10120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=10120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}