Greystone has received from Fannie Mae the #1 Small Loan Lender award and recognized as a top 10 Fannie Mae DUS® Lender.
THE SITUATION
Manchester at Wesleyan is a 328-unit, 1996-vintage garden-style apartment community located in the heart of Macon, Georgia. After acquiring the property in 2023, the sponsor implemented a value-add strategy, investing more than $1 million into amenity upgrades and interior renovations. These improvements, paired with strong demand in the market, helped drive physical occupancy to 94.2%. With the repositioning well underway and operational performance on an upward trajectory, the sponsor sought to refinance their existing debt with long-term, fixed-rate financing to support the next phase of their business plan.
THE SOLUTION
Greystone provided a $24,477,000 Fannie Mae DUS® loan to refinance the property. The execution offered stable, efficient long-term capital aligned with the asset’s improved operations and the sponsor’s ongoing value-add objectives. Because a majority of the units served residents at or below 80% of area median income, the property qualified as a mission-driven asset under Fannie Mae’s affordability criteria, offering additional flexibility within the financing structure.
THE RESULTS
The refinance enabled the sponsor to retire existing debt and secure long-term financing supported by the property’s strengthened occupancy and upgraded amenity package. With renovations continuing to drive rental demand and operational performance, Manchester at Wesleyan is well positioned for sustained success within the Macon market. The financing strengthened the sponsor’s capital structure and supported continued execution of their value-add strategy—demonstrating Greystone’s ability to deliver tailored solutions for mission-driven multifamily assets.
THE SITUATION
Legacy on Rockhill is a newly developed 128-unit build-to-rent community located on a 13.21-acre site in McKinney, Texas. Completed in 2023, the property features one-, two-, and three-bedroom single-family and duplex rental homes with modern finishes, private backyards, and a suite of lifestyle amenities including a pool, fitness center, dog park, bocce ball court, and gated access. As of July 2025, the community had reached 93.75% leased, and the sponsor sought to refinance their construction loan with long-term, fixed-rate financing aligned with the property’s strong market positioning and ongoing lease-up momentum.
THE SOLUTION
Greystone arranged a $19,764,000 Fannie Mae DUS® loan to refinance the asset. The financing structure provided a stable, fixed-rate execution designed to support the property’s performance trajectory and the sponsor’s strategic goals. By leveraging Fannie Mae’s flexible program features, the borrower secured a long-term capital solution at an opportune moment, ensuring continuity during the transition from construction financing to permanent debt.
THE RESULTS
The refinance allowed the sponsor to retire their construction loan and lock in favorable long-term financing supported by the community’s strong occupancy and rental fundamentals. With high-quality amenities and sustained demand for build-to-rent housing in the North Dallas region, Legacy on Rockhill is well positioned for continued success. The loan proceeds helped the borrower strengthen their capital structure, mitigate future interest rate exposure, and advance their long-term investment strategy—demonstrating Greystone’s ability to deliver tailored, market-responsive financing solutions for build-to-rent assets in growing metropolitan areas.
