Greystone, a number one nationwide business actual property finance firm, has offered an $11,050,000 Fannie Mae Delegated Underwriting and Servicing (DUS®) mortgage to refinance a 124-unit multifamily property in Oakland Park, Florida. The transaction was originated by Kyle Jemtrud, Managing Director at Greystone, on behalf of 61-34 Madison Actual Property LLC.
In-built 1971, Oakwood Flats in Broward County is a garden-style house neighborhood with 4 buildings consisting of one- and two-bedroom items, along with an onsite pool and laundry services. The non-recourse $11 million Fannie Mae mortgage carries a 15-year time period and a 30-year amortization interval, in addition to a hard and fast rate of interest and a 55% loan-to-value (LTV).
“We had been thrilled to assist our consumer safe the fitting long-term financing with Fannie Mae for this property,” mentioned Mr. Jemtrud. “Relating to navigating the multifamily lending course of amid altering market dynamics, our shoppers all the time profit from our deep lending platform, our in depth multifamily experience and our capability to execute.”
“We couldn’t be happier – our Greystone crew was capable of get us the capital we would have liked and the long-term financing resolution we desired,” mentioned Mr. Mr. Sinisa Fljankovic, principal of 61-34 Madison Actual Property LLC. “Our Greystone crew stayed targeted on getting the deal completed seamlessly and shortly in order that we may keep targeted on managing this property and others in our portfolio.”
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