Dealmaker: Greystone Provides $20M in Fannie Mae DUS Financing

(Patriot Pointe Apartments, North Ogden, Utah.)

Greystone, New York, provided a $20.3 million Fannie Mae Delegated Underwriting & Servicing Green Rewards loan to refinance an 87-unit multifamily property in North Ogden, Utah.

Constructed in 2020, Patriot Pointe Apartments in Weber County is a townhome community with one-, two- and three-bedroom units. The fixed-rate non-recourse financing included full-term interest-only payments.

Greystone Managing Director Lorie Hanson originated the 10-year financing; Clawson Group President and CEO Johnny Clawson served as correspondent.

Patriot Pointe Apartments achieved a Fannie Mae Green Globes certification for its energy upgrades. In addition to refinancing, the loan proceeds enabled the borrower to monetize some equity in the property.