Greystone's West Coast Origination Platform Closes $46.5 Million in Multifamily Lending

NEW YORK, Oct. 14, 2014 (GLOBE NEWSWIRE) -- Greystone, a leading national provider of multifamily and healthcare mortgage loans, today announced it has funded several large loans through its recently expanded West Coast operations team. Spanning a growing presence from Seattle to San Diego, Greystone has served as an integral finance partner to an increasing number of commercial property owners in today's low-rate environment that is optimal for refinance or acquisitions.

Recent transactions Greystone's Tim Thompson of its San Francisco office originated under the Fannie Mae Delegated Underwriting and Servicing (DUS®) program include:

  • $23.4 million loan to refinance a sprawling 90-unit complex – one of the largest in Sausalito, CA – with bay views, landscaped terraces and pool. The 12-year loan featured five interest-only years.
  • $10.4 million, 10-year loan to refinance a Class A multifamily project in Mountain View, CA with a very unique ownership structure.
  • $12.7 million, 10-year acquisition loan of a Class A multifamily property in Goodyear, AZ, which was the first real estate venture for the borrower in that state

"Greystone's capability to uniquely serve property owners on the West Coast has been growing steadily over the last few years," said Tim Thompson, managing director and head of Greystone's San Francisco office. "With our ever-increasing platform of lending products to match our seasoned, creative lending professionals, we are poised to address the unique needs of multifamily owners in this region."

Greystone provides mortgage finance solutions across multiple platforms, including FHA, Fannie Mae, Freddie Mac, USDA, CMBS, bridge, mezzanine and other proprietary loan programs. In 2013, Greystone ranked #1 in combined multifamily and healthcare FHA lending, #3 in Affordable Housing volume as a Fannie Mae DUS lender, and as a top-5 Freddie Mac lender for seniors housing.

About Greystone

Greystone is a financial services and private investment group whose original core business is multifamily real estate lending. Over the years, Greystone has added business lines that are related to, and natural extensions of, its core business. Headquartered in New York with offices across the U.S., Greystone is active in three major business segments: Mortgage Finance, Healthcare and Real Estate. Greystone's mission is to apply unparalleled creativity while modeling corporate compassion. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information about Greystone's multifamily and healthcare financing solutions please visit http://www.greyco.com.

CONTACT: PRESS CONTACT: Karen Marotta PR Manager, Greystone 212-896-9149 KMarotta@Greyco.com

Source: Greystone

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