NEW YORK NY - Greystone, a leading national provider of multifamily and healthcare mortgage loans, today announced that the firm’s Chicago office has originated 19 multifamily Fannie Mae loans in the first quarter of 2013 through the company’s Delegated Underwriting and Servicing (DUS) platform. The success follows an exceptional 2012, which saw the largest year in volume and transactions for the Chicago location, including 14 deals closed in the fourth quarter alone.
“We have seen significant growth of the Fannie Mae loan market in the Mid-West region and continue to build our Chicago office with experienced talent to meet the demand”
Greystone’s extensive relationships and expertise have enabled the firm to provide borrowers with fast-closing, long-term loans at the most attractive rates available. The team, led by Clint Darby and Sujal Parikh, worked to close a number of notable deals throughout the quarter, including a $18,740,000 Fannie Mae Structured ARM loan, with a 10 year term and 30-year amortization, for Trio Apartments, a 100-unit property in Chicago, Illinois - brokered through HFF. In addition, the team originated, together with Marcus & Millichap, a $7.5 million, 10 year fixed rate loan for a 93-unit complex on Pine Grove Avenue, in Chicago.
“We have seen significant growth of the Fannie Mae loan market in the Mid-West region and continue to build our Chicago office with experienced talent to meet the demand,” said Billy Posey, CEO of Fannie Mae and Freddie Mac Lending at Greystone. “The team’s achievements over the past three months are a great start to the year and we are confident that our volume and transactions will continue to grow.”
To further its expansion in the region, Greystone has hired Thomas Reckley to serve as a Director for Loan Origination. Reckley will report to Darby, head of the Chicago office, and will be responsible for multifamily lending through the Greystone bridge loan program, FHA and the Fannie Mae and Freddie Mac platforms. Prior to his role at Greystone, Reckley served as Vice President of Investor Real Estate at Northern Trust. He holds a Bachelors of Science in Finance & Entrepreneurship from Miami University.
Greystone is ranked as a top-10 Fannie Mae lender by volume nationally, and was the number one FHA lender for 2012. With more than 200 mortgage professionals throughout the United States, Greystone is the multifamily industry expert and leader.
Source: Greystone / #Multifamily #Finance