Greystone announced it has provided a $23,000,000 Fannie Mae Delegated Underwriting and Servicing (DUS®) loan to refinance a 240-unit multifamily property in Oro Valley, AZ. The transaction was originated by Daniel Wolins of Greystone’s New York office.
The $23 million Fannie Mae loan carries a low, fixed interest rate with a 10-year term and 30-year amortization period, including interest-only payments for the first five years. The borrower, an affiliate of Tucson-based HSL Properties, is a long-time client of Greystone.
Originally built in 1988, the recently renovated La Reserve Villas is comprised of market-rate one- and two-bedroom residences with modern appliances and finishes, in-unit washer/dryers, onsite parking and fireplaces in select units. Residents also enjoy access to the property’s clubhouse and fitness center, barbeque areas, two resort-style pools and a spa. Located in the Tucson metro area’s Oro Valley, the property is close to shopping, hotels, and Catalina State Park.
“When clients turn to Greystone time and again, we know that they are placing a premium on not just our extensive lending platform and capabilities, but also on the industry-leading experience we provide them consistently,” said Mr. Wolins. “HSL places its trust in the Greystone experience, and we aim to raise the bar with every transaction by securing the right financing quickly and seamlessly.”
“With each of the multifamily properties in our portfolio, I’ve been able to count on my long-standing Greystone team to deliver what I needed,” said Mr. Omar Mireles, president of HSL Properties. “I appreciate their creative approach and single-minded focus on securing the right financing every time, no matter how unique the property.”