NEW YORK, April 26, 2023 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, has provided a total of $40,124,000 in Fannie Mae Delegated Underwriting & Servicing (DUS®) loans for two multifamily properties totaling 408 units in Indianapolis, Indiana. The financings were originated by Dan Sacks, Senior Managing Director, and Avi Kozlowski, Managing Director, in Greystone’s New York office.
For one transaction, Greystone secured a $23,484,000 Fannie Mae Green Rewards loan carrying a 10-year term and 30-year amortization, with full-term interest-only payments and 9.5 years of Yield Maintenance. Loan proceeds enable the borrower to acquire and make improvements to the property, which is a 26-building garden style apartment community that was constructed in 1972 and offers 200 one-, two- and three-bedroom units.
For a garden-style apartment community built in 1970 that consists of 24 buildings with 208 studio, one- and two-bedroom units, Greystone separately secured a $16,640,000 non-recourse, fixed-rate Fannie Mae loan carrying a 10-year term and 35-year amortization, with full-term interest-only payments and 9.5 years of yield maintenance. In addition to refinancing, loan proceeds enable the borrower to make improvements to the property and monetize a portion of their equity.
Both properties are in Marion County.
“It is our privilege to help clients achieve their long-term goals for each of the multifamily properties their portfolios,” said Mr. Sacks. “We leverage our extensive financing program and work creatively to deliver solutions that exceed expectations for every client, on every transaction.”
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.