{"id":2069,"date":"2021-02-22T20:00:06","date_gmt":"2021-02-23T02:00:06","guid":{"rendered":"https:\/\/1reason.com\/re\/greystone-provides-37-5-million-in-fannie-mae-dus-financing-for-multifamily-properties-in-delaware-and-new-jersey\/2069\/"},"modified":"2021-02-23T14:00:06","modified_gmt":"2021-02-23T20:00:06","slug":"greystone-provides-37-5-million-in-fannie-mae-dus-financing-for-multifamily-properties-in-delaware-and-new-jersey","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/greystone-provides-37-5-million-in-fannie-mae-dus-financing-for-multifamily-properties-in-delaware-and-new-jersey\/2069\/","title":{"rendered":"Greystone Provides $37.5 Million in Fannie Mae DUS\u00ae Financing for Multifamily Properties in Delaware and New Jersey"},"content":{"rendered":"
The transactions were originated by Dan Sacks, Managing Director in Greystone\u2019s New York office, on behalf of long-time client, Goldcrest Management. Jack Miller of Platinum Capital Group acted as correspondent on the transaction. <\/p>\n

Greystone secured a non-recourse $25,069,000 Fannie Mae loan to acquire The Garrison<\/strong> in New Castle, Delaware, a 120-unit midrise multifamily apartment property constructed in 2019. The fixed rate loan carries a 12-year term with a 30-year amortization and five years of interest-only payments.<\/p>\n

Greystone also provided a fixed rate $12,442,000 Fannie Mae Green Rewards loan featuring a 12-year term and 30-year amortization, with five years of interest-only payments for the acquisition of a two-property multifamily portfolio in Vineland, New Jersey. Regency Court<\/strong> is a 104-unit garden style apartment community constructed in 1971 and Chestnut Court<\/strong> a 48-unit garden style apartment community built in 1948.<\/p>\n

\u201cI can think of no greater affirmation of the quality of Greystone\u2019s services than when clients repeatedly ask us to partner with them on their deals,\u201d said Mr. Sacks. \u201cWe recognize that clients have a choice, and we are honored when they continue to choose Greystone. We aim to outperform on service and execution expectations on every engagement, so that clients who come back to us enjoy an even better experience than the one they remembered.\u201d<\/p>\n

\u201cThe Greystone team is integral to our success because they consistently leverage their deep expertise in the multifamily market and lending resources to meet the needs of my expanding portfolio,\u201d said Mr. Hillel Hertz, principal of Hillcrest MH. \u201cTheir passion for multifamily is matched only by their pursuit of excellence on every transaction, and that\u2019s exactly what I want in a partner.\u201d<\/p>\n

About Greystone<\/strong>
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<\/a>.<\/p>\n

PRESS CONTACT:<\/strong>
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com<\/a><\/p>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

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NEW YORK, Feb. 01, 2021 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, has provided $37,511,000 in Fannie Mae Delegated Underwriting and Servicing (DUS\u00ae) loans for the acquisition of three multifamily properties totaling 272 units in Delaware and New Jersey.<\/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\/2069"}],"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=2069"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/2069\/revisions"}],"predecessor-version":[{"id":2078,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/2069\/revisions\/2078"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=2069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=2069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=2069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}