Greystone, a leading national commercial real estate finance company, has provided an $8,972,000 Fannie Mae Delegated Underwriting Services (DUS®) loan to refinance a 116-unit multifamily property in Hoover, Alabama. The transaction was originated by Keith Hires and Carter King, Managing Directors at Greystone, on behalf of Fillmore Capital Partners.

The non-recourse, fixed-rate, interest-only $9 million Fannie Mae loan for The Benton Apartment Homes carries a 10-year term. Located in Jefferson County within the Birmingham MSA, Benton Apartments is 100% occupied and comprises 24 one-bedroom, 76 two-bedroom, and 16 three-bedroom residential units. The property includes amenities such as a clubhouse with business center, playground, and swimming pool.

“We are very excited about our acquisition of this strong performing asset in a premiere, high growth submarket of Birmingham, which is our first acquisition in Alabama and a logical expansion for our portfolio, which includes over 3,500 units in Georgia,” said Michael O. Reinardy, Chief Acquisitions Officer at Fillmore Capital Partners.

“Fillmore has been a pleasure to work with over the years, and we are honored to have played an integral role in helping them to grow their multifamily investment portfolio in the U.S.,” said Mr. Hires.