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NEW YORK, April 14, 2022 (GLOBE NEWSWIRE) — Greystone, a number one nationwide industrial actual property finance firm, has offered a $16,605,000 Fannie Mae Delegated Underwriting and Servicing (DUS®) mortgage to refinance a 168-unit multifamily property in Tallahassee, Florida. The transaction was originated by Kyle Jemtrud, Managing Director at Greystone, on behalf of Pax Properties LLC.
In-built 1974, Renaissance Residences in Leon County is a garden-style residence group with 13 buildings consisting of 96 one-bedroom, 96 two-bedroom, and 32 three-bedroom models, together with an onsite pool, group heart and laundry amenities. The $16.6 million Fannie Mae financing, which is a everlasting takeout of a Greystone bridge mortgage, carries a 10-year time period and a 30-year amortization interval, with a low, mounted fee and 6 years of interest-only funds.
“Greystone’s bridge-to-agency course of helps our shoppers get the best financing they want by means of all levels of property possession,” stated Mr. Jemtrud. “Our in-depth data of the multifamily market, coupled with our deep lending platform, means we will present options that work in each market cycle.”
“Not solely did Greystone present interim financing for us, however the workforce delivered a everlasting financing answer with distinctive phrases in very brief order,” stated Mr. Justin Ford, principal of Pax Properties LLC. “We’re supremely impressed with Greystone’s intensive multifamily lending capabilities and their capacity to execute, and sit up for working with them on future transactions.”
About GreystoneGreystone is a personal nationwide industrial actual property finance firm with a longtime fame as a frontrunner in multifamily and healthcare finance, having ranked as a high FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are provided by means of Greystone Servicing Firm LLC, Greystone Funding Firm LLC and/or different Greystone associates. For extra info, go to www.greystone.com.
PRESS CONTACT:Karen MarottaGreystone212-896-9149[email protected]