NEW YORK, Nov. 30, 2020 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, has provided a $19,450,000 Fannie Mae Delegated Underwriting and Servicing (DUS®) Green Globes loan to refinance a 144-unit multifamily community in Mooresville, North Carolina. The financing was originated by Cullen O’Grady, Managing Director in Greystone’s Rockville, MD office in collaboration with Payton Banks, Managing Director, Greystone Real Estate Advisors.
Continuum 115 Apartments is a Class A apartment community built in 2018, by investment and development group DYON. The property contains 144 one-, two-, and three-bedroom units across 14.2 acres, with 99% occupancy at the time of closing. Resident amenities include a resort-style pool, al fresco dining area with grills, clubhouse with lounge, game room, business center and fitness center with yoga studio. The property achieved a “Two Green Globes” certification for new construction through Fannie Mae’s Green program. Continuum 115 is within the town limits of Mooresville, Iredell County, North Carolina, approximately 3 miles southwest of the Mooresville central business district and about 30 minutes North of Charlotte.
“We are ecstatic to have closed in the borrower’s desired timeline by providing attractive financing terms through Fannie Mae’s Green program. Fannie Mae was our trusted partner, again, to work with us for the borrower to achieve their Two Green Globes Certification right before we began the refinancing process,” said Mr. O’Grady. “Continuum’s sleek modern unit interiors and state-of-the-art community amenities make the property a best-in-class asset.”
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.
DYON is a private investment company led by Jaykant Patel, based out of Charlotte, NC that invests across multiple industries and asset classes with a focus on real estate acquisition and development. DYON owns and operates several multifamily, retail and mixed-use properties in the southeast United States.