NEW YORK, July 29, 2024 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, has provided a $14,500,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) loan to refinance a 216-unit multifamily property in Hoover, Alabama. The financing was originated by Rob Meehan, Managing Director at Greystone, with HKS Capital Partners acting as correspondent.
Constructed in 1983, 700 Riverchase in Shelby County is a garden-style apartment community with 12 buildings featuring one-, two- and three-bedroom units. The property’s amenities include a fitness center, laundry facilities, swimming pool, outdoor grill center, dog park, playground and pickleball court. The $14,500,000 non-recourse, fixed-rate financing features a five-year term and 30-year amortization, with interest-only payments for the full term of the loan.
“Greystone’s well-diversified lending platform and our longstanding multifamily experience mean that we can get creative when helping our clients find the right financing terms in most markets,” said Mr. Meehan. “Our goal is to help our clients bring the vision for their properties to life, and we work to ensure that every phase of loan transaction is executed seamlessly.”
“Our experience with Greystone was incredible – our team understood our needs quickly and crafted the right financing solution for our property,” said Mr. David Topping, principal of the borrower. “We appreciated their insights, expertise and attention to detail at every stage, and we look forward to working with them in the future.”
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
