Multifamily Properties in Delaware and New Jersey
Greystone secured a non-recourse $25,069,000 Fannie Mae loan to acquire The Garrison in New Castle, Delaware, a 120-unit midrise multifamily apartment property constructed in 2019. The fixed rate loan carries a 12-year term with a 30-year amortization and five years of interest-only payments.
Greystone also provided a fixed rate $12,442,000 Fannie Mae Green Rewards loan featuring a 12-year term and 30-year amortization, with five years of interest-only payments for the acquisition of a two-property multifamily portfolio in Vineland, New Jersey. Regency Court is a 104-unit garden style apartment community constructed in 1971 and Chestnut Court a 48-unit garden style apartment community built in 1948.