NEW YORK, May 18, 2022 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, has provided a $16,970,000 loan to Fannie Mae Delegated Underwriting Services (DUS®) to refinance a multifamily property in 258 accommodations in Hopkinsville, KY. The transaction was initiated by Lorie Hanson, chief executive of Greystone.
The 10-year fixed-rate Fannie Mae loan for aspen meadow includes only interest payments for the entire term of the loan. Acquired in October 2020, the property received nearly $1 million in capital expenditures, including interior and exterior upgrades and common amenities.
“Borrowers have been great to work with and have reacted quickly to take advantage of an early rate lock-in, in an environment of rising interest rates,” Ms. Hanson said. “They have invested in long-term ownership of the property and this Fannie Mae refinancing allows them to preserve that asset. It was a pleasure to work with them and we are delighted with the result.
Greystone is a national, privately held commercial real estate finance company with an established reputation as a leader in multifamily and healthcare financing, having been ranked among the top FHA, Fannie Mae and Freddie Mac lenders in these sectors. Loans are offered by Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com.