Greystone Provides $87 Million in Fannie Mae Financing for a Multifamily Property in Maryland
Greystone provided an $87 million Fannie Mae Delegated Underwriting and Servicing (DUS®) loan to refinance a 486-unit multifamily property in Prince Georges County, Maryland. The financing was originated by Dan Sacks and Eric Rosenstock, Managing Directors in Greystone’s New York office, on behalf of Glendale Apartments Properties LLC.
The $87,000,000 Fannie Mae Green Mortgage loan carries a 12-year term, a low fixed interest rate, five years of interest-only payments, and a 30-year amortization period. The Property has received Energy Star Certification for the Green Building Certification. This certification recognizes the top 25% of the most energy-efficient buildings within its class.
Originally built in 1968, The Glendale Residence Apartments is a garden-style apartment community in Lanham that offers 486 one-, two-, and three-bedroom units with modern appliances and finishes, in-unit washer/dryers, walk-in closets and private outdoor living spaces. Residents can also enjoy the pet-friendly community’s swimming pool, picnic and playground area, and on-site parking. The property is located near the Greenway Shopping Center Beltway Plaza, and offers convenient access to local schools, employers, shopping and entertainment, as well as to the Goddard Space Flight Center and The University of Maryland.
“There is no greater compliment than when a client comes back to Greystone for another transaction. We value our clients’ trust and work hard to deliver the right financing for the unique particulars of every deal,” said Mr. Sacks. “We couple our deep multifamily lending expertise with our commitment to seamless execution to give clients an unparalleled service experience, one that is truly in a class of its own.”
“Once again, the Greystone team rose to the occasion and delivered exceptional results in remarkably short order,” said Mr. Josh Fink, Vice President of Quantum Equites, LLC “We’ve navigated through so many unknowns over the past year, but there was never a question in my mind that Greystone would be our trusted partner on this deal and many more to come.”