Greystone Provides $9 Million in Fannie Mae Financing for Multifamily Property in Ogden, Utah
Greystone has provided a $9 million Fannie Mae Delegated Underwriting and Servicing (DUS®) Green Building Certification loan to refinance a newly-constructed 56-unit multifamily property in Ogden, Utah. The financing was originated by Lorie Hanson and Shana Daby, Managing Directors at Greystone, on behalf of Knox on 12th Street, LLC.
The non-recourse $9,005,000 Fannie Mae loan carries a 12-year term, a fixed interest rate, four years of interest-only payments, and a 30-year amortization period. Knox on 12th Apartments completed construction in 2020 and leased up rapidly. It is a mid-rise two-building property offering one- and two–bedroom units with modern appliances and finishes, in-unit washers and dryers, walk-in closets and private outdoor spaces. The pet-friendly property also offers 24-hour secure access and on-site parking. The property is conveniently located near the area’s shopping, entertainment and dining establishments, and is close to major arteries that lead to I-15 and Salt Lake City.
“We are committed to serving our clients well – whether it’s their first time working with us or if they have been with Greystone for decades, we want to help bring the vision for their properties to life,” said Ms. Hanson. “Greystone has deep experience and knowledge in the multifamily space that few can match, and our extensive lending platform can meet clients’ needs across the capital stack.”