Dealmaker: Greystone Provides $13M in Fannie Mae Financing for Louisiana Multifamily Properties

Greystone, New York, provided $13.4 million in Fannie Mae Delegated Underwriting and Servicing loans to refinance two Baton Rouge, La., multifamily properties.

Greystone Managing Directors Keith Hires and Carter King originated the loans for Patrician Management, Baton Rouge.

Bienville Towers received an $8.1 million loan. The financing covered 160 units of the 200-unit fractured condominium property at 2100 College Drive. The 10-year fixed-rate non-recourse loan came with a 30-year amortization schedule and four years of interest-only payments. Property amenities include two swimming pools and four laundry centers.

Parc at Mid City received a $5.3 million loan. The 88-unit property at 1100 South Foster Drive also received a 10-year fixed-rate non-recourse loan with a 30-year amortization schedule. The financing included five years of interest-only payments.

“The timing to refinance these two properties was right, and the borrower received favorable terms for both properties, given the rising occupancy demand and strong fundamentals for multifamily in the Baton Rouge market,” Hires said.