Greystone announced it has provided a $49,207,000 Fannie Mae DUS® loan to refinance a 150-unit multifamily community located in Norwalk, Connecticut. The financing was originated by Greystone’s Clint Darby and Andrew Remenschneider, on behalf of Spinnaker Real Estate Partners.
Built in 2024 in Fairfield County, SoNo Central is a six-story apartment complex featuring studio, one-, and two-bedroom units, and 12 commercial units. Residents enjoy access to a fitness center, community great room with co-working lounge, and a courtyard with swimming pool, barbeque stations and bocce ball court.
The property helps provide more affordable housing for the community in having at least 10% of the dwelling units rented to persons / families whose annual income is less than or equal to 80% of the Area Median Income.
“Greystone’s careful and creative approach helps our clients achieve their goals, and it’s exceptional to add this Spinnaker asset to our portfolio given the client’s strong position as a top developer of multifamily in Connecticut as well as helping facilitate more affordability of rents,” said Mr. Darby.
“We turned to Greystone because of their industry-leading reputation for service and extensive multifamily lending platform,” said Mr. John Wilcox, Spinnaker CFO. “Our Greystone team exceeded expectations on every measure; they were dedicated and responsive, and we look forward to working with them on future projects.”