Greystone has provided a $51,870,000 Fannie Mae Delegated Underwriting Services (DUS®) loan to refinance a 312-unit multifamily property in Tucson, Arizona. The transaction was originated by Daniel Wolins of Greystone on behalf of long-time client, HSL Properties, Inc.
Encantada Rita Ranch, is a rental property constructed in 2021, consisting of 16 garden-style apartment buildings that offer 117 one-bedroom,138 two-bedroom and 57 three-bedroom units. The fixed rate loan features a 10-year term and 30-year amortization, as well as full-term interest-only payments.
“It’s been an exciting year – not only did we finish construction on Encantada Rita Ranch, but thanks to our Greystone team, we were able to capitalize on the market’s current low interest rate environment as well,” said Mr. Omar Mireles, principal of the borrower. “Greystone’s deep lending platform and multifamily expertise are why we’ve considered them a trusted partner for so many years.”
“Greystone is always looking for ways to help our clients be successful with their multifamily portfolios. Our client-first focus is the reason clients continue to come back,” said Mr. Wolins. “Our extensive multifamily platform enables us to exceed expectations on service and execution, so that clients can more quickly realize their vision for their properties.”