NEW YORK, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, has provided $137.4 million in total Fannie Mae financing via a Bulk Delivery for 10 multifamily properties across three different states. The financing was originated by Steve Mumford, Managing Director at Greystone.
Fannie Mae’s Bulk Delivery option is a structured transaction to finance multiple single-asset multifamily properties for the same sponsor which allows substitution of properties as collateral and also enables addition of loans later. It includes features such as easy expansion for additional properties, retaining favorable interest rates with property substitutions, and recognizing portfolio improvements with supplemental financing. Bulk Delivery minimum sizes range from $100 million; to $75 million with at least 3 properties at closing; or $55 million with at least 6 properties at closing.
This Bulk Delivery transaction included 10 properties across California, Washington, and Montana, and totaled 927 units, and all carry 10-year terms.
“The Fannie Mae Bulk Delivery platform offers distinct advantages for Fannie Mae borrowers that have a large collection of properties to refinance now and in the future, and Greystone is proud to be a leader in delivering this solution,” said Mr. Mumford.
About Greystone
Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com.
PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com
