Greystone has provided a $16,970,000 Fannie Mae Delegated Underwriting Services (DUS®) loan to refinance a 258-unit multifamily property in Hopkinsville, KY. The transaction was originated by Lorie Hanson, Managing Director at Greystone.
The 10-year, fixed-rate Fannie Mae loan for Aspen Meadow includes interest-only payments for the full term of the loan. Acquired in October 2020, the property has received nearly $1 million in capital expenditures including both interior and exterior upgrades and to the common amenities.
“The borrowers were wonderful to work with and moved quickly to take advantage of an early rate lock, in an increasing interest rate environment,” said Ms. Hanson. “They have invested in a long-term hold of the property and this Fannie Mae refinance enables them to preserve this asset. It was a pleasure working with them and we are thrilled with the outcome.”