Greystone Provides $12.5 Million in Fannie Mae Financing for Colorado Student Housing
Greystone has provided $12,458,000 in Fannie Mae Delegated Underwriting and Servicing (DUS®) financing for a 32-unit student housing property in Boulder, CO. The transaction was originated by Richard Kourbage, managing director at Greystone on behalf of Zargo Invest.
The $12.5 million Fannie Mae loan refinances existing Fannie Mae debt on View House and carries a fixed rate with a 10-year term and 30-year amortization, and five years of interest-only payments. Built in 1968 and located less than one mile from The University of Colorado Boulder, View House is situated on 0.73 acres. The property offers one, two-, and three-bedroom units and is 100% occupied.
Property amenities at View House include laundry facilities, controlled access/gated, and off-street parking, with units featuring vaulted ceilings, in-unit washer and dryer, a separate beverage refrigerator, and additional den space. In addition to the university, View House is within walking distance of Pearl Street Mall and boast views of the Flatirons.
“Despite the challenges the student housing sector has faced during the pandemic nationally, there has been sustained, strong demand for quality housing such as View House,” said Mr. Kourbage. “We are thrilled we could provide a successful refinance on this property, which is a high-quality asset serving the lively CU Boulder community.”