Greystone Provides $20 Million Fannie Mae DUS® Loan to Refinance Multifamily Property in Lanham, MD
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NEW YORK, May 11, 2022 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, has provided a $20,000,000 loan to Fannie Mae Delegated Underwriting and Servicing (DUS®) for refinance a 322-unit multi-family community in Lanham, Maryland. The transaction was initiated by Cullen O’Grady, managing director of Greystone’s office in Rockville, MD.
Developed in 1965, Del Vista Apartments comprises 168 one-bedroom units, 36 one-bedroom units with den, 79 two-bedroom units, and 36 three-bedroom units on 14.59 acres. Property facilities include a swimming pool, playground and communal laundry facilities offered in each of the 25 buildings. Located in Prince George’s County, the property enjoys excellent access to major arteries providing direct access to Washington DC’s central business district and employment hubs including the University of Maryland, Center for Food Safety and Applied Nutrition, NASA’s Goddard Space Flight Center, and the National Archives II facility.
Greystone secured the deal through Marc Tropp, Senior Managing Director of Eastern Union Funding, a key Greystone correspondent. The borrower is a private investor and a loyal customer of Fannie Mae, Eastern Union and Greystone.
“We executed the loan quickly with very favorable terms through Fannie Mae’s Streamline Rate Lock process, allowing the borrower to lock in their rate right after the request during an extremely turbulent and volatile Treasury market,” Mr. O’Grady. “We are always grateful when trusted clients and correspondents return to Greystone for agency finance solutions, placing their trust not only in our lending capabilities, but also in our industry-leading expertise, especially during difficult times. of the market. »
About GreystoneGreystone is a national, privately held commercial real estate finance company with an established reputation as a leader in multifamily and healthcare financing, having been ranked among the top FHA, Fannie Mae and Freddie Mac lenders in these sectors. Loans are offered by Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com.
PRESS CONTACT:Karen Marotta Greystone212-896-9149[email protected]