Greystone Provides $18.6 Million in Fannie Mae DUS® Financing for Affordable Housing Property in Fort Worth, Texas
2024年8月13日 - 1:36AM
Greystone, a leading national commercial real estate finance
company, has provided an $18,620,000 Fannie Mae Delegated
Underwriting & Servicing (DUS®) loan for the acquisition of a
204-unit multifamily property in Fort Worth, Texas. The financing
was originated by John Williams, Managing Director at Greystone.
Constructed in 2003, The
Residences of Diamond Hill in Tarrant County is a
40-building garden-style apartment community featuring two-, three-
and four-bedroom apartments. More than half of the apartments are
designated for low-income (below 60% area median income, or AMI)
and extremely low-income (below 30% AMI) residents.
The property has land-use restriction agreements
(LURAs) requiring limits on resident income and rent restrictions
on 121 apartments. The $18.6 million Fannie Mae Multifamily
Affordable Housing (MAH) acquisition loan carries a 10-year term
and 35-year amortization, with interest-only payments for the first
five years.
The property’s amenities include a fitness center,
swimming pool, outdoor grill and picnic area, playground and an
after-school program.
“Greystone is passionate about helping clients find
the right financing to bring quality, affordable housing to working
families in their communities,” said Mr. Williams. “We are deeply
committed to being part of the solution for our nation’s affordable
housing crisis and are proud that our multi-faceted and extensive
multifamily lending platform equips us with the tools and resources
to do so.”
About GreystoneGreystone is a
private national commercial real estate finance company with an
established reputation as a leader in multifamily and healthcare
finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac
lender in these sectors. Loans are offered through Greystone
Servicing Company LLC, Greystone Funding Company LLC and/or other
Greystone affiliates. For more information, visit
www.greystone.com.
PRESS CONTACT:Karen
MarottaGreystone212-896-9149Karen.Marotta@greyco.com