Greystone, a leading national commercial real estate finance company, has provided $13.4 million in total Fannie Mae Delegated Underwriting Services (DUS®) loans to refinance two multifamily properties in Baton Rouge, Louisiana. The loans were originated by Keith Hires and Carter King, Managing Directors at Greystone, on behalf of Patrician Management.

An $8,100,000 Fannie Mae loan was provided for Bienville Towers, covering 160 units of the 200-unit fractured condominium property located at 2100 College Drive. The non-recourse loan carries a 10-year fixed rate with a 30-year amortization and four years of interest-only payments. Amenities at the property include two swimming pools and four laundry centers.

A $5,339,250 Fannie Mae loan was provided for Parc at Mid City, an 88-unit property located at 1100 South Foster Drive. The non-recourse loan also carries a 10-year fixed rate with a 30-year amortization and the first 5 years of interest-only payments. On-site amenities at the property include a swimming pool, a barbeque / picnic area, and a community laundry center.

“The timing to refinance these two properties was right, and the borrower received favorable terms for both properties, given the rising occupancy demand and strong fundamentals for multifamily in the Baton Rouge market,” said Mr. Hires. “Greystone’s deep expertise and knowledge of Fannie Mae financing products serve as a strength for borrowers like Patrician.”

“Greystone has been an incredible partner over the years as we’ve worked on optimizing our portfolio,” said Alex Lewis, operating partner of the borrower. ‘We appreciate their guidance on refinancing and their industry experience in multifamily.”

Greystone, a leading national commercial real estate finance company, has provided a $15.9 million Fannie Mae Delegated Underwriting and Servicing (DUS®) loan to refinance a 19-unit multifamily property in Beverly Hills, CA. The new permanent financing was originated by Dale Holzer, Managing Director at Greystone.

The $15,966,500 Fannie Mae loan carries a 10-year term and along with a low, fixed rate and ten years of interest-only payments. Purchased in 2003 by the current owners, Park Rodeo Apartments was built in 1937, and comprises studio, one-, two-, and three-bedroom units. The restored Old Hollywood courtyard style apartment building is situated on iconic Rodeo Drive and includes amenities such as a fitness room and parking garage.

“This quintessential Beverly Hills apartment community is a gem in the sponsors’ portfolio, and it’s been a pleasure helping them extract the property’s value and increase cash flow with a permanent Fannie Mae loan,” said Mr. Holzer. “We look forward to future transactions with the team as they grow their portfolio.”

Greystone, a leading national commercial real estate finance company, has provided a total of $26,800,000 in Fannie Mae Small Loans to refinance seven multifamily properties in Los Angeles. The transactions were originated by Nash Midzi of Greystone on behalf of Mr. Hal Marshall Sears and Michel Roy-led partnerships.

The portfolio of 10-year, fixed-rate loans, which financed a total of 236 units, included:

·       A $5,465,000 loan for a 48-unit property on South Hobart Boulevard;

·       A $4,823,000 loan for a 45-unit property on South Harvard Boulevard;

·       A $2,195,000 loan for a 24-unit property on Gramercy Drive;

·       A $3,420,000 loan for a 34-unit property on Ingraham Street;

·       A $3,247,000 loan for a 28-unit property on Garfield Place;

·       A $3,170,000 loan for a 22-unit property on Commonwealth Ave; and

·       A $4,480,000 loan for a 35-unit property on South Wilton Place.

“As a leading provider of Fannie Mae small loans, Greystone’s execution is top-notch, and we ensure that our clients’ needs come first,” said Mr. Midzi.

“Nash and his team members did an excellent job with the execution of this portfolio refinance, which has helped our team improve cashflows and better serve our tenants.” said Mr. Hal Sears. “Greystone is a critical partner for commercial real estate investors, particularly in the LA market.”

Greystone, a leading national commercial real estate finance company, has provided a $51,870,000 Fannie Mae Delegated Underwriting Services (DUS®) loan to refinance a 312-unit multifamily property in Tucson, Arizona. The transaction was originated by Dan Wolins of Greystone on behalf of long-time client, HSL Properties, Inc.

Encantada Rita Ranch, is a rental property constructed in 2021, consisting of 16 garden-style apartment buildings that offer 117 one-bedroom,138 two-bedroom and 57 three-bedroom units. The fixed rate loan features a 10-year term and 30-year amortization, as well as full-term interest-only payments.

“It’s been an exciting year – not only did we finish construction on Encantada Rita Ranch, but thanks to our Greystone team, we were able to capitalize on the market’s current low interest rate environment as well,” said Mr. Omar Mireles, principal of the borrower. “Greystone’s deep lending platform and multifamily expertise are why we’ve considered them a trusted partner for so many years.”

“Greystone is always looking for ways to help our clients be successful with their multifamily portfolios. Our client-first focus is the reason clients continue to come back,” said Mr. Wolins. “Our extensive multifamily platform enables us to exceed expectations on service and execution, so that clients can more quickly realize their vision for their properties.”

Greystone, a leading national commercial real estate finance company, has provided a total of $17,573,000 in Fannie Mae Delegated Underwriting and Servicing (DUS®) loans for the acquisition of two multifamily properties totaling 151 units in New York City. The transactions were originated by Dan Sacks and Ilan Bassali in Greystone’s New York office, on behalf of Heritage Affordable Communities, LLC.

Greystone provided a non-recourse $12,475,000 Fannie Mae loan to acquire Highland Avenue Senior Apartments, an 88-unit midrise seniors housing apartment property in Yonkers, which was constructed in 2008. The fixed-rate loan carries a 12-year term with a 30-year amortization and five years of interest-only payments.

Greystone also provided a fixed rate $5,098,000 Fannie Mae loan with a 10-year term and amortization, and full-term interest-only payments for the acquisition of 2120 Hughes Avenue, a 63-unit multifamily apartment property in the Bronx that was built in 1995.

“Our deep expertise in multifamily financing and the breadth of our lending platform are second only to our passion about the need for quality affordable housing in the U.S., particularly in major urban centers,” said Mr. Sacks. “When we do our part by exceeding client expectations on service and execution on these transactions, we know that we are enabling others to bring safe, affordable homes within reach to families across the country,” said Mr. Bassali.

“This was my first time working with Greystone, but it won’t be my last – the team was as committed to realizing my vision for these properties as I am,” said Mr. Alexander Hajibay, principal of Heritage Affordable Communities, LLC. “From the very start, Greystone was a true partner; they impressed me with their creativity and tireless pursuit of excellence and I look forward to working with them on future deals.”

Greystone, a leading national commercial real estate finance company, has provided a $14.5 million Fannie Mae Delegated Underwriting and Servicing (DUS®) Multifamily Affordable Loan (MAH) loan to refinance a 173-unit affordable housing property in Woodland, CA. The financing was originated by Dale Holzer, Managing Director at Greystone.

The $14,550,000 Fannie Mae loan carries a 10-year term and 30-year amortization, along with a low, fixed rate. Woodmark Apartments consists of 14 garden-style apartment buildings, offering one-, two- and three-bedroom units. Residents of the community enjoy access to the business center, fitness center, swimming pool, playground, and basketball court. The property was built in 2000 using 4% Low Income Housing Tax Credits and Tax Exempt Bond Financing. All of the units are set aside at 60% or less than area median income (AMI).

“Our deep experience with Fannie Mae and its products has equipped us to provide the client with a financing solution tailored to their needs,” said Mr. Holzer. “We are thrilled to help play a role in making this refinance happen for our client.”

“Greystone’s understanding of the nuances of the local market, and of the particulars of the multifamily space, are unparalleled,” said Bob Korda, key principal of the borrower.