NEW YORK, NY - Greystone, a leading national commercial real estate finance company, has provided an $8,972,000 Fannie Mae Delegated Underwriting Services (DUS®) loan to refinance a 116-unit multifamily property in Hoover, Alabama. The transaction was originated by Keith Hires and Carter King, Managing Directors at Greystone, on behalf of Fillmore Capital Partners.
The non-recourse, fixed-rate, interest-only $9 million Fannie Mae loan for The Benton Apartment Homes carries a 10-year term. Located in Jefferson County within the Birmingham MSA, Benton Apartments is 100% occupied and comprises 24 one-bedroom, 76 two-bedroom, and 16 three-bedroom residential units. The property includes amenities such as a clubhouse with business center, playground, and swimming pool.
“We are very excited about our acquisition of this strong performing asset in a premiere, high growth submarket of Birmingham, which is our first acquisition in Alabama and a logical expansion for our portfolio, which includes over 3,500 units in Georgia,” said Michael O. Reinardy, Chief Acquisitions Officer at Fillmore Capital Partners.
“Fillmore has been a pleasure to work with over the years, and we are honored to have played an integral role in helping them to grow their multifamily investment portfolio in the U.S.,” said Mr. Hires.
About Greystone: Greystone is a private national commercial real estate finance 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. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com
About Fillmore Capital Partners: Fillmore Capital Partners is a private investment company with principal focus on multifamily housing, healthcare, entertainment, lodging, and other specialized real estate investments. For more information, visit www.fillmorecap.com