NEW YORK, May 02, 2023 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, has provided a $10,377,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) loan for the acquisition of a 100-unit multifamily property in Decatur, Georgia. The financing was originated by Dan Sacks, Senior Managing Director, and Avi Kozlowski, Managing Director, in Greystone’s New York office, on behalf of Park Estates FO, LLC. Meridian Capital – New York acted as correspondent.
Constructed in 1985, Park Estates in Dekalb County, is a garden-style apartment community consisting of 13 buildings that offer two-bedroom units. The $10,377,000 non-recourse, fixed-rate Fannie Mae loan carries a five-year term and amortization, with full-term interest-only payments and 4.5 years of yield maintenance. In addition to the acquisition, loan proceeds enable the borrower to make improvements to the property.
“Clients turn to Greystone because we have 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,” said Mr. Sacks. “We are committed to serving our clients well and work tirelessly to bring the vision for their properties to life.”
“We needed expert guides for this transaction and we were drawn to Greystone because of their exceptional reputation as a multifamily leader,” said Mr. Brian Mallin, principal the borrower. “Our Greystone team outperformed at every stage of the transaction – we look forward to working with them again in the future.”
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.