NEW YORK, May 24, 2016 (GLOBE NEWSWIRE) -- Greystone, a real estate lending, investment and advisory company, today announced it has provided three Fannie Mae DUS® loans totaling $36,810,000 to refinance an 811-unit multifamily property portfolio in Texas. The loans were originated by Tony Spaeth of Greystone.
The Fannie Mae DUS loans carry 10-year terms with 30-year amortizations, each with a period of interest-only payments. The properties include:
- Park at Crestview, located in Austin, TX and comprised of 248 units, was refinanced for $16,725,000 with three years of interest-only;
- Park at Ventana, located in San Antonio, TX and comprised of 319 units, was refinanced for $11,570,000 with five years of interest-only; and
- Villas at Ventana, located in San Antonio, TX and comprised of 244 units, was refinanced for $8,515,000 with five years of interest-only.
The Texas properties host contemporary amenities including a swimming pool, fitness center, clubhouse lounge, and business center.
"Greystone’s expertise with both the Fannie Mae DUS product and agile navigation of the Texas multifamily market has enabled us to coordinate this trio of closings for our client in alignment with their existing portfolio under the most beneficial terms," said Joe Mosley, Executive Managing Director and head of Agency lending at Greystone.
About Greystone
Greystone is a real estate lending, investment and advisory company which consistently ranks as a top commercial lender. Our range of services includes commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge and proprietary loan products. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information, visit www.greyco.com.