NEW YORK, July 29, 2021 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, has provided a total of $24,850,000 in Fannie Mae Delegated Underwriting and Servicing (DUS®) loans as supplemental financing for two multifamily properties in Phoenix, AZ. The new loan transactions were originated by Tony Spaeth and Trip Going of Greystone.
The first property, a 461-unit complex, received $10,400,000 in Fannie Mae coterminous supplemental financing from Greystone. The property was built in 1983 and comprises 23 residential buildings, a laundry building, leasing office and golf cart shed, with studio-, one-, and two-bedroom units.
The second property, a 548-unit complex, received $14,450,000 in coterminous supplemental Fannie Mae financing from Greystone. The property was built in 1980 an comprises 62 residential buildings, two clubhouses, and a leasing office, with one-, two-, and three-bedroom units.
“Greystone is a Top 10 Fannie Mae lender, and we are thrilled to have helped our repeat client deepen their relationship with Fannie Mae as a borrower with this supplemental financing,” said Mr. Spaeth. “Coming out of the height of the pandemic, multifamily property owners are looking to maximize their equity to ensure the long-term strength of their investments.”
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.