Greystone has provided a $20,777,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) loan to refinance a 206-unit multifamily property in Allentown, Pennsylvania. The financing was originated by Avi Lifshitz and Aviel Hematian of Greystone on behalf of Pankaj Sharma of S&S Properties.
Wynnewood Greens, built in 1975, comprises 18 low-rise, three-story buildings. The community includes 1-, 2-, and 3-bedroom units, 271 parking spaces, and was originally acquired by the sponsor in 2008. The property’s amenities include balconies and patios, picnic areas, and laundry facilities. The non-recourse Fannie Mae financing is a seven-year fixed-rate loan with full-term interest-only.
“Greystone strives to help our clients find the best solutions for their capital needs,” said Mr. Lifshitz. “We’re committed to helping them navigate today’s market and unlock equity from their assets to enable growth in their property portfolios.”