NEW YORK, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, has provided a $14.5 million Fannie Mae Delegated Underwriting and Servicing (DUS®) Multifamily Affordable Loan (MAH) loan to refinance a 173-unit affordable housing property in Woodland, CA. The financing was originated by Dale Holzer, Managing Director at Greystone.
The $14,550,000 Fannie Mae loan carries a 10-year term and 30-year amortization, along with a low, fixed rate. Woodmark Apartments consists of 14 garden-style apartment buildings, offering one-, two- and three-bedroom units. Residents of the community enjoy access to the business center, fitness center, swimming pool, playground, and basketball court. The property was built in 2000 using 4% Low Income Housing Tax Credits and Tax Exempt Bond Financing. All of the units are set aside at 60% or less than area median income (AMI).
“Our deep experience with Fannie Mae and its products has equipped us to provide the client with a financing solution tailored to their needs,” said Mr. Holzer. “We are thrilled to help play a role in making this refinance happen for our client.”
“Greystone’s understanding of the nuances of the local market, and of the particulars of the multifamily space, are unparalleled,” said Bob Korda, key principal of the borrower.
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.