Fannie Mae + Greystone Mezzanine Loan Program

Let's move your project forward


A DUS Lender Affiliate (“DLA”) Mezzanine Loan is a subordinate loan funded simultaneously with a newly originated Greystone Fannie Mae DUS loan (“Senior Mortgage”). The loan is secured by a 100% pledge of the equity interests in the Borrower. Non-recourse, subordinate financing of multifamily properties.

Loan Amount
$1,000,000 minimum. Senior Mortgage minimum of $10,000,000.

Up to 12-year terms available. Coterminous with the Senior Mortgage

Combined Loan to Value Maximum
85% of appraised value

Combined Coverage Minimum


Mezzanine Borrower
Newly formed SPE, bankruptcy remote Delaware Single-member LLC, owned and controlled by the Sponsor

Pledge of the equity of the Senior Mortgage borrower, secured by UCC filing. Eagle 9 title policy is required

Interest Rate
10-13% fixed rate coupon varying with LTV, DSCR, market and sponsor. Senior Mortgage must have a fixed interest rate.

Prepayment Terms
Lockout period of 12 months. Can be prepaid before A Note.

Supplemental Financing
Allowed on the Senior Mortgage; proceeds shall be utilized to pay off the Mezzanine Loan.