NEW YORK, NY - Greystone, a leading national commercial real estate lending, investment, and advisory company, has provided a $26,558,000 Fannie Mae Delegated Underwriting and Servicing (DUS®) loan to refinance a 297-unit multifamily property in Delaware. The transaction was originated by Dan Sacks in Greystone’s New York office.
The $26.6 million Fannie Mae loan carries a 10-year term with a 30-year amortization, with the first three years of interest-only payments.
Located in New Castle County, Liberty Square is a garden style, multifamily apartment community spanning 13.8 acres. The property includes amenities for residents, such as a swimming pool, playhouse, playground, tennis court, and laundry facilities in each building.
“After having worked with our clients on a number of properties in Pennsylvania, we are thrilled to help expand their portfolio into Delaware,” said Mr. Sacks. “It is extremely gratifying when clients come back to us showing they believe in our ability to meet their capital needs.”
“We value our longstanding relationship with Greystone, and we are thrilled at the outcome of this refinancing, which enables us to continue expansion in the multifamily sector,” said Shmuel Tress.
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