Greystone provided a $26,558,000 Fannie Mae Delegated Underwriting and Servicing (DUS®) loan to refinance a 297-unit multifamily property in Delaware. The transaction was originated by Dan Sacks in Greystone’s New York office.
The $26.6 million Fannie Mae loan carries a 10-year term with a 30-year amortization, with the first three years of interest-only payments.
Located in New Castle County, Liberty Square is a garden style, multifamily apartment community spanning 13.8 acres. The property includes amenities for residents, such as a swimming pool, playhouse, playground, tennis court, and laundry facilities in each building.
“After having worked with our clients on a number of properties in Pennsylvania, we are thrilled to help expand their portfolio into Delaware,” said Mr. Sacks. “It is extremely gratifying when clients come back to us showing they believe in our ability to meet their capital needs.”
“We value our longstanding relationship with Greystone, and we are thrilled at the outcome of this refinancing, which enables us to continue expansion in the multifamily sector,” said Shmuel Tress.