Greystone has provided a $7,480,000 Fannie Mae Delegated Underwriting and Servicing (DUS) loan to refinance a 138-unit multifamily community in Orlando, Florida. The transaction was originated by Cullen O'Grady, managing director in Greystone’s Rockville, MD office.
The $7.48 million Fannie Mae DUS financing has a 10-year term at a low, fixed rate and a 25-year amortization. Greystone sourced the transaction with Stephen Kane, manager of JEK Consultants, Inc., a correspondent based in Florida. The borrower is a private investor located in Florida, and this is their fourth multifamily refinancing with Greystone.
Developed in 1982, the cardinal-style multifamily property community consist of 138 units on 7.2 acres. The property features studio, one bedroom, and two bedrooms apartments unit mix. Located 20 minutes outside of Downtown Orlando, the property is conveniently located near the major highways, which provide easy access to the area’s retailers, restaurants, employment centers, and recreation.
“We are thrilled to have helped provide attractive financing terms that fit our client’s needs,” said Mr. O’Grady. “We are always grateful when clients return to Greystone for agency financing solutions, placing their trust in not only our lending capabilities but also our industry-leading expertise.”
“We trust the Greystone team to deliver on our clients’ expectations,” said Mr. Kane. “They are committed to helping us achieve our goals even through these challenging times.”