NEW YORK, Oct. 20, 2016 (GLOBE NEWSWIRE) -- Greystone, a real estate lending, investment and advisory company, today announced it has provided a $36,015,000 Fannie Mae Delegated Underwriting and Servicing (DUS®) loan to refinance Colonial Townhouse Apartments in Windham, CT. The loan, closed in just 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.
The 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.
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.
PRESS CONTACT: Karen Marotta Greystone 212-896-9149 Karen.Marotta@Greyco.com