Dealmaker: Greystone Provides $14.5M in Financing for Alabama Multifamily

(Image courtesy of Greystone)

Greystone, New York, has provided a $14.5 million Fannie Mae Delegated Underwriting & Servicing loan to refinance a 216-unit multifamily property in Hoover, Ala., near Birmingham.

The financing was originated by Rob Meehan, Managing Director at Greystone, with HKS Capital Partners acting as correspondent.  

The $14.5 million non-recourse, fixed-rate financing features a five-year term and 30-year amortization, with interest-only payments for the full term of the loan.

The property–700 Riverchase–was constructed in 1983 and includes 12 buildings with one-, two- and three-bedroom units, along with numerous amenities.