Greystone, a leading national commercial real estate finance company, has provided a total of $79,125,000 in Fannie Mae Delegated Underwriting & Servicing (DUS®) loans to refinance three multifamily properties totaling 939 units in and around Tucson, Arizona. The financing was originated by Dan Wolins, Managing Director at Greystone on behalf of affiliated entities of HSL Properties, Inc.

Each of the non-recourse, fixed-rate loans in the portfolio carries a 30-year amortization schedule, with interest-only payments for the entire 10-year term. The portfolio includes:

·        $36,618,000 for the 323-unit Desert Sands Apartments, in Casa Grande in Pinal County;

·        $29,360,000 for the 456-unit Canyon Oaks Apartments in Tucson in Pima County; and

·        $13,147,000 for the 160-unit Brittany Court Apartments, also in Tucson in Pima County.         

“Clients rely on Greystone because we know the ins and outs of multifamily finance, and are careful and creative in our approach,” said Mr. Wolins. “Tapping into our extensive lending platform, our main objective is to help clients realize their goals for all of the properties in their portfolio.”

“Greystone has earned our trust – our team’s diligence and creative problem-solving always exceeds expectations,” said Mr. Omar Mireles, president of HSL Properties, Inc. “In our experience, the company’s reputation for excellence in multifamily finance and client service is well-deserved – it’s why we keep coming back.”

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 commercial real estate lending, investment, and advisory company, has provided $91,279,000 in Fannie Mae Delegated Underwriting and Servicing (DUS®) loans to refinance a 1,406-unit multifamily portfolio in Tucson, AZ. The separate transactions were originated by Dan Wolins, managing director at Greystone, on behalf of HSL Properties.

The $91.3 million in Fannie Mae financings all carry 10-year terms at a fixed rate with a 30-year amortization, and five years of interest-only payments. The non-recourse loans refinance four separate properties in Tucson: the 242-unit Canyon Creek; 256-unit Ridgepoint; 336-unit Catalina Canyon; and 572-unit Sycamore Creek.

“The new lending landscape has certainly introduced some challenges for multifamily property investors, but we have helped them to adapt and thrive with the capital options that are available,” said Mr. Wolins. “Greystone works diligently to be hyper-informed on local markets, changes in loan terms and rates, and to be able to provide a broad array of capital solutions when needed. We are very happy to team up with HSL again on these properties, which are long-held assets in their portfolio. They are a premier owner / operator in Tucson with unparalleled market knowledge.”

“We trust our Greystone team to deliver above our expectations and are thrilled to have been able to close this financing during a pandemic, especially with credit markets being more challenged than ever,” said Omar Mireles, president, HSL Properties.

Greystone, a leading national commercial real estate lending, investment, and advisory company, announced it has provided a $23,000,000 Fannie Mae Delegated Underwriting and Servicing (DUS®) loan to refinance a 240-unit multifamily property in Oro Valley, AZ. The transaction was originated by Daniel Wolins of Greystone’s New York office.

The $23 million Fannie Mae loan carries a low, fixed interest rate with a 10-year term and 30-year amortization period, including interest-only payments for the first five years. The borrower, an affiliate of Tucson-based HSL Properties, is a long-time client of Greystone.

Originally built in 1988, the recently renovated La Reserve Villas is comprised of market-rate one- and two-bedroom residences with modern appliances and finishes, in-unit washer/dryers, onsite parking and fireplaces in select units. Residents also enjoy access to the property’s clubhouse and fitness center, barbeque areas, two resort-style pools and a spa. Located in the Tucson metro area’s Oro Valley, the property is close to shopping, hotels, and Catalina State Park.

“When clients turn to Greystone time and again, we know that they are placing a premium on not just our extensive lending platform and capabilities, but also on the industry-leading experience we provide them consistently,” said Mr. Wolins. “HSL places its trust in the Greystone experience, and we aim to raise the bar with every transaction by securing the right financing quickly and seamlessly.”

“With each of the multifamily properties in our portfolio, I’ve been able to count on my long-standing Greystone team to deliver what I needed,” said Mr. Omar Mireles, president of HSL Properties. “I appreciate their creative approach and single-minded focus on securing the right financing every time, no matter how unique the property.”