Greystone has provided a $20,301,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) Green Rewards loan to refinance an 87-unit multifamily property in North Ogden, Utah. The financing was originated by Lorie Hanson, Managing Director at Greystone, with Johnny Clawson from The Clawson Group, Inc. acting as correspondent.
Constructed in 2020, Patriot Pointe Apartments inWeber County is a townhome community with one-, two- and two-bedroom units. The $20,301,000 non-recourse, fixed-rate financing carries a 10-year term and 30-year amortization, with full-term interest-only payments. The property achieved a Fannie Mae Green Globes certification for its energy upgrades. In addition to refinancing, loan proceeds enable the borrower to monetize a portion of the equity in the property.
“At Greystone, our number one priority is to secure the right financing for the multifamily properties in our clients’ portfolios in every economic environment,” said Ms. Hanson. “Our clients know that we will leverage our deep multifamily expertise and deliver an exceptional experience on each transaction.”
“We go to Greystone because they do outstanding work – we trust their insights and experience as a leader in multifamily finance,” said Mr. John Hansen and Mr. Ken Crockett, principals of the borrower. “We bring our Greystone team as our partner on every transaction because their financing capabilities and quality of service exceed our expectations every time.”