Dealmaker: Greystone Provides $11M in Financing for Multifamily Connecticut Property

(Image courtesy Greystone)

Greystone, New York, provided just over $11 million in a Fannie Mae Delegated Underwriting & Servicing loan for a multifamily property in Meriden, Conn., near New Haven.

The financing was originated by Dan Sacks, Senior Managing Director at Greystone, on behalf of Kennedy Holdings.

The $11,050,000 non-recourse, fixed-rate financing carries a 10-year term and 30-year amortization, with seven years of interest-only payments. The loan proceeds will refinance an existing Greystone loan on the property and enable the borrower to monetize its equity.

The property, called The Kennedy Building, boasts 135 units and dates to 1921.