Dealmaker: Greystone Provides $88M in Texas, Georgia

Greystone, New York, provided $51.6 million in Fannie Mae Delegated Underwriting and Servicing loans for two large multifamily properties in Arlington and Euless, Texas.

Greystone Managing Director of Agency Originations Rob Russell originated both loans.

InterCapital Group LLC, Houston, acquired The Parks at Treepoint in Arlington for $33 million and Post Oak Place in Euless for $18.6 million. The 10-year fixed-rate Fannie Mae loans include three years of interest-only payments. The Parks at Treepoint includes 586 units on 30 acres and Post Oak Place has 350 units on 11 acres.

Joe Mosley, Executive Managing Director with Greystone, said Fannie Mae’s DUS loan platform simplified the loan process so InterCapital Group met its hard purchase date.

Russell also originated $36 million in Fannie Mae DUS loans for InterCapital Group to purchase a Georgia three-property multifamily portfolio. The 10-year fixed-rate loans include three years of interest-only amortization.

InterCapital Group acquired Forest Glen Apartments in Austell, Ga., for $14.9 million and Home Ridge Apartments and Stewart’s Mill Apartments in Douglasville, Ga., for $9.8 million and $11.3 million, respectively.

Greystone also provided a Freddie Mac Program Plus loan that allowed Providence Investments, Birmingham, Ala., to acquire an Alabama apartment community. Greystone Vice President John Williams and Director Abe Spira originated the five-year fixed-rate loan with one year interest-only.