Dealmaker: Greystone Provides $54M in Fannie Mae Financing

Greystone, New York, provided $54.4 million in Fannie Mae Delegated Underwriting and Servicing loan for multifamily assets in Utah and Virginia.

In Ogden, Utah, Greystone provided $10.1 million to refinance Whisperwood by Lotus, a 40-unit townhouse-style apartment community with seven three-story buildings, completed last year.

Greystone Managing Director Lorie Hanson originated the transaction for Lotus Whisperwood LLC, Ogden. The non-recourse loan carried a 10-year term with a fixed interest rate.

Greystone also provided $44.3 million in acquisition financing for a three community, 472-unit multifamily portfolio in Chesapeake, Va. Steven Vainer, Managing Director at Greystone, originated the transaction for MRKT Capital, New York.

MRKT Capital acquired the former Templeton portfolio in January in a $61 million transaction brokered by Marcus & Millichap, Calabasas, Calif. Altay Uzun, First Vice President of Investment Sales in Marcus & Millichap’s Virginia office facilitated the 1031 exchange transaction.

The non-recourse, fixed-rate, interest-only Fannie Mae loans all carried 12-year terms and six years of interest-only payments. The subject properties included Green Tree Apartments with 208 units, Emerald Lake Apartments with 132 units and Oak Grove Apartments with 132 units.