Dealmaker: Greystone Provides $42M in Fannie Mae DUS Financing

Parkview Terrace Apartments, Thornton, Colo.

Greystone, New York, provided $42.1 million in Fannie Mae Delegated Underwriting & Servicing funds for multifamily properties in Colorado and Oregon.

In Thornton, Colo., Greystone Managing Director Dale Holzer originated a $30.4 million DUS loan that refinanced 206-unit property Parkview Terrace Apartments.

Garden-style community Parkview Terrace Apartments dates to 1972 and includes 60 one-bedroom, 138 two-bedroom and 8 three-bedroom units. The new loan is a permanent exit from bridge acquisition financing provided by Greystone in July 2021. The non-recourse, fixed-rate financing came with a seven-year term and full-term interest-only payments.

Greystone also provided an $11.7 million Fannie Mae DUS loan for the Somerset Villas, a 92-unit multifamily property in Eugene, Ore. Tim Thompson, Managing Director in Greystone’s San Francisco office, originated the financing. Mark Paskill, Director of Loan Production with Melvin Mark Capital Group, Portland, Ore., acted as correspondent on the transaction.

Built in 1999, Somerset Villas in Lane County is garden-style community with 15 buildings. The 10-year, non-recourse fixed-rate financing included full-term interest-only payments.