NEW YORK, June 11, 2020 (GLOBE NEWSWIRE) — Greystone, a number one business actual property lending, funding, and advisory firm, has supplied $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 had been originated by Dan Wolins, managing director at Greystone, on behalf of HSL Properties.
The $91.three million in Fannie Mae financings all carry 10-year phrases at a set fee with a 30-year amortization, and 5 years of interest-only funds. The non-recourse loans refinance 4 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,” stated 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,” stated Omar Mireles, president, HSL Properties.
Greystone is an actual property lending, funding, and advisory firm with a longtime fame as a frontrunner in multifamily and healthcare finance, having ranked as a prime FHA, Fannie Mae, and Freddie Mac lender in these sectors. Our vary of providers contains business lending throughout a wide range of platforms resembling Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge and proprietary loan merchandise. Loans are supplied by Greystone Servicing Firm LLC, Greystone Funding Firm LLC and/or different Greystone associates. For extra info, go to www.greyco.com.