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NEW YORK, Oct. 04, 2022 (GLOBE NEWSWIRE) — Greystone, a number one nationwide industrial actual property finance firm, has supplied a complete of $59,670,000 in Fannie Mae Delegated Underwriting & Servicing (DUS®) financing for the acquisition of a 488-unit multifamily property in Oxon Hill, Maryland. The financing was originated by Eric Rosenstock and Dan Sacks, Managing Directors in Greystone’s New York workplace.
Constructed in 1963, Oaks at Park South in Prince George’s County consists of 26 garden-style buildings with one-, two- and three-bedroom items. The $60 million non-recourse, structured adjustable price mortgage (SARM) mortgage carries a 10-year time period and 30-year amortization together with 10 years of interest-only funds. The mortgage additionally qualifies for Fannie Mae Multifamily Green Rewards financing program, following the completion of power and water conversion measures.
“There is no greater compliment than when clients return to Greystone for help in managing their multifamily portfolios,” mentioned Mr. Rosenstock. “Our extensive lending platform and our longstanding commitment to multifamily mean we are willing to be creative, tap into deep resources and find solutions where others cannot.”
“We trust the experts at Greystone to address the financing needs of our growing portfolio of properties,” mentioned Mr. Josh Fink of Quantum Equities, a longtime shopper of Greystone. “They are a true partner that understands our vision and works tirelessly for us on each transaction, handling our properties as if they were their own.”
About Greystone
Greystone is a personal nationwide industrial actual property finance firm with a longtime popularity as a frontrunner in multifamily and healthcare finance, having ranked as a high FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are provided via Greystone Servicing Company LLC, Greystone Funding Company LLC and/or different Greystone associates. For extra data, go to www.greystone.com.
PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
[email protected]
