NEW YORK, Feb. 01, 2021 (GLOBE NEWSWIRE) — Greystone, a number one nationwide business actual property finance firm, has supplied $37,511,000 in Fannie Mae Delegated Underwriting and Servicing (DUS®) loans for the acquisition of three multifamily properties totaling 272 items in Delaware and New Jersey. The transactions had been originated by Dan Sacks, Managing Director in Greystone’s New York workplace, on behalf of long-time shopper, Goldcrest Administration. Jack Miller of Platinum Capital Group acted as correspondent on the transaction.
Greystone secured a non-recourse $25,069,000 Fannie Mae mortgage to accumulate The Garrison in New Fortress, Delaware, a 120-unit midrise multifamily condo property constructed in 2019. The fastened fee mortgage carries a 12-year time period with a 30-year amortization and 5 years of interest-only funds.
Greystone additionally supplied a hard and fast fee $12,442,000 Fannie Mae Inexperienced Rewards mortgage that includes a 12-year time period and 30-year amortization, with 5 years of interest-only funds for the acquisition of a two-property multifamily portfolio in Vineland, New Jersey. Regency Court docket is a 104-unit backyard model condo neighborhood constructed in 1971 and Chestnut Court docket a 48-unit backyard model condo neighborhood inbuilt 1948.
“I can consider no better affirmation of the standard of Greystone’s providers than when shoppers repeatedly ask us to associate with them on their offers,” stated Mr. Sacks. “We acknowledge that shoppers have a selection, and we’re honored once they proceed to decide on Greystone. We purpose to outperform on service and execution expectations on each engagement, in order that shoppers who come again to us get pleasure from a good higher expertise than the one they remembered.”
“The Greystone group is integral to our success as a result of they persistently leverage their deep experience within the multifamily market and lending assets to satisfy the wants of my increasing portfolio,” stated Mr. Hillel Hertz, principal of Hillcrest MH. “Their ardour for multifamily is matched solely by their pursuit of excellence on each transaction, and that’s precisely what I need in a associate.”
Greystone is a personal nationwide business actual property finance firm with a longtime popularity as a pacesetter in multifamily and healthcare finance, having ranked as a high FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are provided by way of Greystone Servicing Firm LLC, Greystone Funding Firm LLC and/or different Greystone associates. For extra data, go to www.greystone.com.