Greystone Provides $22 Million Loan for Indiana Multifamily Acquisition
Greystone, a leading national commercial real estate finance company, has provided a $22 million Fannie Mae Delegated Underwriting and Servicing (DUS®) loan to acquire a 324-unit multifamily property in Indianapolis, Indiana. The financing was originated by Dan Sacks, Managing Director at Greystone, for long-time client Cyclone Wildwood 324, LLC.
The $21,996,000 Fannie Mae loan carries a 12-year term and 30-year amortization, along with a low, fixed rate and five years of interest-only payments. Wildwood Village Apartments consists of 33 garden-style apartment buildings, offering one- and two-bedroom units with modern appliances, in-unit washer/dryer hook ups, fireplaces, generous storage and private outdoor spaces. Residents of the pet-friendly community also enjoy access to the community clubhouse, business center, fitness center, swimming pool, sports court and dog park. The property is located near Interstate 65 and offers easy access to downtown Indianapolis, as well as to the area’s dining and shopping establishments.
“There is no greater compliment than when clients come back to us with other properties in their portfolio,” said Mr. Sacks. “The long-standing relationships we’ve built with our clients are based on their trust in our proven ability to understand their needs and execute their transactions seamlessly.”
“When we’re under a timeline to acquire an asset, we know we can rely on Greystone to get the deal done,” said Mr. Eichorn, principal of Cyclone Wildwood 324. “This was another successful 1031 exchange – we truly rely on Greystone because they demonstrate a passion and vision for our properties that mirrors our own, and frankly, their knowledge of the multifamily space is really unparalleled in this industry.”