NEW YORK, May 28, 2014 (GLOBE NEWSWIRE) -- Greystone, a leading national provider of multifamily and healthcare mortgage loans, today announced it provided $11,415,000 to refinance Hidden Brook Apartments in Culloden, West Virginia. Originated by Andrew Ellis in Greystone's Rockville, MD office, the loan was delivered under the Fannie Mae Delegated Underwriting and Servicing (DUS®) program.
The loan terms include 10-year fixed-rate financing with 30-year amortization. Hidden Brook Apartments is a 168-unit property comprising 82 townhomes and 86 garden-style apartments constructed in four phases from 2008 through 2013.
"Greystone's expertise in underwriting and financing multifamily properties such as Hidden Brook Apartments make our lending services a particularly great match for Charleston-area multifamily owners," said Joe Mosley, Executive Vice President and Head of Agency Production at Greystone. "The rental market here remains strong, and owners can take advantage of continued favorable terms for multifamily lending," he added.
Greystone provides mortgage finance solutions across multiple platforms, including FHA, Fannie Mae, Freddie Mac, USDA, CMBS, bridge, mezzanine and other proprietary loan programs. In 2013, Greystone ranked #1 in combined multifamily and healthcare FHA lending, #3 in Affordable Housing as a Fannie Mae DUS lender, and as a top-5 Freddie Mac lender for seniors housing.
Greystone is a financial services and private investment group whose original core business is multifamily real estate lending. Over the years, Greystone has added business lines that are related to, and natural extensions of, its core business including acquisition, development, and management of multifamily housing properties across the country. Headquartered in New York with offices across the U.S., Greystone is active in three major business segments: Mortgage Finance, Healthcare and Real Estate. Greystone's mission is to apply unparalleled creativity while modeling corporate compassion. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information about Greystone's multifamily and healthcare financing solutions please visit http://www.greyco.com.
PRESS CONTACT: Karen Marotta PR Manager, Greystone 212-896-9149