Greystone grants $ 20 million loan to Fannie Mae
NEW YORK, September 20, 2021 (GLOBE NEWSWIRE) – Greystone, a leading national commercial real estate finance company, has provided a Fannie Mae DUSÂ® loan of $ 20,142,000 for the purchase of a home affordable in Chico, CA. The loan was initiated by Scott Wallace, director of Greystone.
The affordable Fannie Mae loan for Apartments Village des CÃ¨dres, a Section 8 HAP property, carries a 15-year term at a fixed rate with 35-year amortization. The 116-unit garden-style property was originally built in 1979 and consists of 10 two-story apartment buildings. The resort offers one, two and three bedroom units and has amenities such as a laundry room, playground, and business center.
“It was a pleasure working with the borrower to secure long term financing with Fannie Mae and play a role in preserving affordable housing in the state of California,” said Mr. Wallace. âGreystone’s expertise in affordable housing finance and our long relationship with Fannie Mae is definitely beneficial to our clients.
âGreystone’s advice and expertise in Agency funding have been instrumental in the success of the team’s mission to make affordable housing available to local residents,â said Andrew Agetstein of Pennant Housing Group.
Greystone is a national private commercial real estate finance company with an established reputation as a leader in multi-family and healthcare finance, having been ranked among the top lenders by FHA, Fannie Mae and Freddie Mac in these sectors. Loans are offered by Greystone Servicing Company LLC, Greystone Funding Company LLC and / or other companies affiliated with Greystone. For more information, visit www.greystone.com.