Greystone has provided a $14,565,400 Fannie Mae Delegated Underwriting & Servicing (DUS®) loan for the acquisition of a 144-unit multifamily property in Savannah, Georgia. The financing was originated by Carter King, Director at Greystone, and sale arranged by Nelson Abels, Taylor Bird, Laura Aylor, and Austin Weathington of Cushman & Wakefield’s Sunbelt Multifamily Advisory Group.
Constructed in 2004, Bradley Pointe Apartments in Chatham County is a garden-style community offering one-, two-, three- and four-bedroom units. This value-add opportunity is well situated in the Georgetown submarket with true barriers to entry and lack of supply. The property will benefit from 17k new jobs coming to the market poised for future growth. The $14,565,400 non-recourse, fixed-rate loan features interest-only payments for its entire 10-year term.
“In collaboration with Cushman & Wakefield, our goal is to ensure that our clients have peace of mind about securing the financing the properties in their portfolios need, so we work tirelessly to help them achieve their goals,” said Mr. King.