NEW YORK, Nov. 17, 2021 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, has provided $37,574,000 million in total Fannie Mae Delegated Underwriting and Servicing (DUS®) loans to refinance a 200-unit housing portfolio in Seattle, WA. The financing was originated by Lorie Hanson, Managing Director at Greystone, with Mark Dibble of DSC Capital acting as correspondent on behalf of WRP Associates.
The non-recourse, fixed-rate Fannie Mae loans all carry 10-year terms and are interest-only for the duration of the loans. The financing includes loans for the following properties:
- The Westside Off Broadway, a 45-unit property with an $11,420,000 loan;
- Capitol Court, a 44-unit property with a $6,670,000 loan;
- Belgrove Court, a 60-unit property with a $10,004,000 loan; and
- Lake Union Tower and Interlake Place, two properties comprising 51 units, with $9,480,000 in financing.
“It’s been a pleasure working with Tim Walker, Ian Poll, and Ron Rudy, as well as Mark, on this value-add refinance, enabling the borrowers to extract the properties’ increased value and increase their cash flow,” said Ms. Hanson.
“Lorie and her team did a great job. Their product Knowledge and familiarity with the Seattle market was invaluable,” said Ron Rudy, key principal of the borrower.
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.