NEW YORK, NY - Greystone, a leading national commercial real estate lending, investment, and advisory company, announced it has provided $8,005,000 in total Fannie Mae small loans to refinance a portfolio of multifamily properties in Philadelphia, Penn. The loans were originated by Anthony Cristi of Greystone’s New York office on behalf of La Gioconda Company, a family-owned multifamily property investment firm based in Philadelphia.
The Fannie Mae financing was secured for a total of 10 workforce housing properties totaling 88 units. All properties received fully amortizing Hybrid 7-year adjustable rate mortgages.
“Fannie Mae financing provides an ideal solution for value-add and refinance strategies, especially in today’s favorable rate environment,” said Mr. Cristi. “Greystone has a robust suite of financing solutions for any capital need, and I am thrilled to have assisted La Gioconda in their quest to extract value from their assets and reduce their debt service.”
“Greystone’s expertise in multifamily refinance has proven a truly valuable part of our property investment strategy,” said borrower Domenico Nigro. “With their guidance, we will be able to optimize and expand our real estate portfolio over time.”
About Greystone: Greystone is a real estate lending, investment, and advisory company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Our range of services includes commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge and proprietary loan products. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greyco.com