Greystone Provides $10 Million in Fannie Mae Financing on Four Multifamily Communities in Southern California
Greystone has provided $9,951,000 in total Fannie Mae loans to finance four multifamily communities comprising 63 total units in California. The four loans were originated by Brennan Weinstein, director in Greystone’s Los Angeles office.
The financing included:
- A 23-unit building located in Los Angeles, California that received a $3.35 million Fannie Mae loan with a 7-year term.
- A 16-unit property in Los Angeles, California that received $2.48 million in Fannie Mae financing with a 10-year term.
- A 12-unit property in Los Angeles, California that received $1.54 million in Fannie Mae financing and carries a 10-year term.
- A 12-unit building located in Bell, California that received a $2.66 million Fannie Mae loan and carries a 10-year term.
“The Los Angeles market is showing strong signs of potential as we begin to recover from the pandemic’s impact on the commercial real estate market,” said Mr. Weinstein. “These workforce housing properties are critical to the market, and I’m thrilled to be able to help the owner maintain their investment for the benefit of their tenants.”