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.

Greystone, a leading national commercial real estate finance firm, has provided a $39,060,000 Fannie Mae DUS® loan for the acquisition of an affordable housing property in Corona, California, on behalf of Avanath Capital. The property was represented for sale by Aaron Hargrove and Eric Taylor of Greystone Real Estate Advisors, and the buyer’s financing was originated by Jeff Englund of Greystone.

The Fannie Mae Multifamily Affordable Housing (MAH) acquisition loan for River Run Senior Apartments, originally built in 2004 with 4% low-income housing tax credits and tax-exempt bond financing, carries a 10-year term at a fixed interest rate and a 30-year amortization, with full-term interest only payments. The 360-unit property is age-restricted to individuals aged 55 years or older and offers one- and two-bedroom units with community amenities such as a clubhouse, library, heated swimming pool, picnic area with BBQ grills, dog park, shuffleboard, and rose gardens.

“River Run fits perfectly in line with Avanath’s mission to provide families with higher-quality, well-maintained and safe affordable housing, and we are thrilled to have added this quality asset to our portfolio with Greystone’s help,” said Andrew Mackay, SVP of Acquisitions for Avanath Capital. “Greystone’s affordable housing expertise is truly unparalleled, but on top of that, their approach to customer service is why we are repeat clients.”

“The Avanath team was a true pleasure to work with, and it’s gratifying to help investors with such a strong mission to preserving affordable housing in areas such as California, which is facing many economic and environmental challenges on top of the pandemic’s stressors,” said Mr. Englund, head of affordable housing lending at Greystone. “Greystone’s expertise with affordable housing and its many complexities – tax credits, bonds, and land use agreements – as well as our long relationship with Fannie Mae, are all part of the ways we help investors navigate this critical area of real estate.

Greystone, a leading national commercial real estate finance firm, has provided a $20,142,000 Fannie Mae DUS® loan for the acquisition of an affordable housing property in Chico, California. The loan was originated by Scott Wallace, Director at Greystone.

The Fannie Mae affordable loan for Cedar Village Apartments, a section 8 HAP property, carries a 15-year term at a fixed rate with a 35-year amortization. The 116-unit, garden style property was originally constructed in 1979 and consists of 10 two-story apartment buildings. The complex offers one-, two-, and three-bedroom units and features amenities such as a laundry room, playground, and business center.

“It was a pleasure working with the borrower to secure long-term financing with Fannie Mae and play a role in preserving affordable housing in the state of California,” said Mr. Wallace. “Greystone’s expertise with affordable housing financing and our long relationship with Fannie Mae is certainly beneficial for our clients.”

“Greystone’s guidance and expertise with Agency financing has played an integral role in the success of team’s mission to make affordable housing available to local residents,” said Andrew Agetstein of Pennant Housing Group.

Greystone, a leading national commercial real estate finance company, has provided a $22 million Fannie Mae Delegated Underwriting and Servicing (DUS®) loan to acquire a 324-unit multifamily property in Indianapolis, Indiana. The financing was originated by Dan Sacks, Managing Director at Greystone, for long-time client Cyclone Wildwood 324, LLC.

The $21,996,000 Fannie Mae loan carries a 12-year term and 30-year amortization, along with a low, fixed rate and five years of interest-only payments. Wildwood Village Apartments consists of 33 garden-style apartment buildings, offering one- and two-bedroom units with modern appliances, in-unit washer/dryer hook ups, fireplaces, generous storage and private outdoor spaces. Residents of the pet-friendly community also enjoy access to the community clubhouse, business center, fitness center, swimming pool, sports court and dog park. The property is located near Interstate 65 and offers easy access to downtown Indianapolis, as well as to the area’s dining and shopping establishments.

“There is no greater compliment than when clients come back to us with other properties in their portfolio,” said Mr. Sacks. “The long-standing relationships we’ve built with our clients are based on their trust in our proven ability to understand their needs and execute their transactions seamlessly.”

“When we’re under a timeline to acquire an asset, we know we can rely on Greystone to get the deal done,” said Mr. Eichorn, principal of Cyclone Wildwood 324. “This was another successful 1031 exchange – we truly rely on Greystone because they demonstrate a passion and vision for our properties that mirrors our own, and frankly, their knowledge of the multifamily space is really unparalleled in this industry.”