News: Front Section
Posted: December 14, 2016
Greystone places $36.015 million Fannie Mae DUS loan to refinance Colonial Townhouse Apartments
Windham, CT Greystone, a real estate lending, investment and advisory company, has provided a $36.015 million Fannie Mae Delegated Underwriting and Servicing (DUS) loan to refinance Colonial Townhouse Apartments. The loan, closed in 14 days, was originated by Donny Rosenberg of Greystone on behalf of Colonial BT LLC, with Shaya Ackerman of Meridian Capital in New York as correspondent on the transaction.
Colonial Townhouse Apartments - Windham, CTThe non-recourse Fannie Mae loan for Colonial Townhouse Apartments carries a 10-year fixed term with the first 3 years interest-only, and a 30-year amortization. The property, 95.9% occupied, boasts 444 residential units and is situated in the Hartford MSA. The owner has held the property since 2000 and has invested over $7 million in rehabilitation of the community’s interior units and exterior.
“The Greystone/Meridian team delivered results in a timeframe that we never thought possible, and it was probably the smoothest execution we have ever experienced,” said Mordecai Sternstein, CFO of the borrower.
About Greystone Greystone is a real estate lending, investment and advisory company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA and Affordable Fannie Mae lender in these sectors. Our range of services includes commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge and proprietary loan products. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information, visit www.greyco.com.
Tags:
Front Section
MORE FROM Front Section
Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.
Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
.png)
Quick Hits
Columns and Thought Leadership
Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore
While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
Make PR pop by highlighting unique angles - by Stanley Hurwitz
Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
Four tips for a smooth 1031 Exchange - by Bill Lopriore
Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul
To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.