Greystone has provided an $8,723,000 Fannie Mae Delegated Underwriting Service (DUS®) loan to refinance a 148-unit multifamily property in Terrytown, Louisiana. The transaction was originated by Keith Hires and Carter King, Managing Directors in Greystone’s Atlanta office, on behalf Oak Alley Terrytown Apartments, LLC.
Constructed in 1974, Oak Alley Apartments is a gated, garden-style apartment community in Jefferson Parish consisting of 148 one-, two-, and three-bedroom units. The fixed-rate $8.7 million Fannie Mae loan carries a 10-year term and 30-year amortization, as well as five years of interest-only payments.
“We rely on Greystone as our trusted partner because of their deep knowledge of the multifamily space and their extensive lending capabilities,” said Louis Rodriguez of Cypress Multifamily, a key principal of the borrower. “The Greystone team consistently exceeds our expectations, executing seamlessly and quickly on all of our transactions.”
“At Greystone, we are committed to helping our clients maximize the potential of every property in their portfolios,” said Mr. Hires. “The breadth and depth of our multifamily lending platform enable us to find solutions where others can’t, in any market environment.”