NEW YORK, Jan. 30, 2015 (GLOBE NEWSWIRE) -- Greystone, a leading national provider of multifamily and healthcare mortgage loans, today announced it provided a $19,500,000 loan for Varden Capital Properties' (VCP) acquisition of Hartford Place Apartments in Atlanta, Georgia. The loan was originated by Vincent Langan of Greystone and delivered to Fannie Mae under its Delegated Underwriting and Servicing (DUS®) program.
The loan terms include 12-year financing with 30-year amortization, one year interest-only and 75% LTV. Hartford Place Apartments comprises 351 units and is located within the highly desired infill West Midtown area, within close proximity to Midtown, Buckhead and Downtown Atlanta. The West Midtown area is undergoing rapid redevelopment and is known as a vibrant, trendy area with numerous converted industrial-to-retail developments.
"Varden's continued commitment to Greystone as a lender is a testament to our ability to execute with certainty, and provide unmatched service to borrowers who are highly acquisitive," said Joe Mosley, Executive Vice President of Agency Lending at Greystone. "We value their trust in us and look forward to many more transactions in the future."
Greystone provides mortgage finance solutions across multiple platforms, including FHA, Fannie Mae, Freddie Mac, USDA, CMBS, bridge, mezzanine and other proprietary loan programs.
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 including acquisition, development, and management of multifamily housing properties across the country. 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