Greystone Closes Over $1 Billion in Freddie Mac and Fannie Mae Multifamily Small Loans
Market Focus, Expertise, and Process Efficiencies Contribute to a Record Pace of Small Loans Volume
Greystone, a leading commercial real estate lending, investment, and advisory company, today announced it has closed over $1 billion in Freddie Mac and Fannie Mae multifamily small loans to date in 2018, contributing to the support of critical workforce housing across the U.S.
Greystone has served as an innovator and strategic partner for both Freddie Mac and Fannie Mae’s small loan platforms, which offer competitive terms for investors and owners of smaller apartment rental properties, and provide flexible loan offerings that include hybrid ARMs, fixed-rate financing up to 80% LTV, as well as interest-only payments and flexible prepayment options.
“Closing over 400 small loans totaling in excess of $1 billion so far this year clearly demonstrates our commitment to the Agency small loan business,” said Rick Wolf, head of Greystone’s small loan platform.
To support the growing demand nationally for financing of smaller multifamily assets, or properties containing 5 to 50 units, Greystone has invested in operational efficiencies, increased staffing in both production and underwriting support, and is growing its presence in key markets that are seeing demand for workforce housing, such as Denver, Miami, and Seattle.
“We are committed to being the leader in the workforce housing finance market, and both understanding and meeting the needs of investors and owners across the U.S.,” added Mr. Wolf.
“Since the inception of our Small Balance Loan platform in 2014, Greystone has been an exceptionally strong partner and a large contributor to its overall success and growth,” said Stephen Johnson, Vice President of Freddie Mac’s Small Balance Loan Business. “As the largest financier of multifamily loans in the U.S., we are steadfastly focused on increasing funding for workforce housing. The SBL program and our partnership with Greystone has been invaluable in helping us achieve that goal.”
“Greystone has been a valued contributor to Fannie Mae’s small loans lending platform for over 14 years, and we appreciate their long-term commitment and aligned mission to support the workforce housing sector,” said Ann Atkinson, Director Customer Engagement at Fannie Mae.