By Adelina Osan, Associate Editor
Dallas—Greysteel has arranged a refinancing loan for a 180-unit multifamily community in Dallas. Greysteel facilitated the loan on behalf of KRR Construction Ltd. Greysteel Dallas-Fort Worth Senior Director Anton Mattli and Finance Associate John Marshall Doss negotiated the transaction for The Homes of Persimmon.
The 35-year non-recourse, self-liquidating loan, provided by a national agency lender, features a fixed rate of 3.83 percent and an 80 percent loan-to-value ratio.
Located at 3245 Simpson Stuart Road, The Homes of Persimmon features amenities such as a fitness center, a swimming pool, laundry facilities and an attached parking garage. The property was built in 2000.
“The borrower was seeking to refinance their existing asset with a more attractive loan, as well as obtain additional proceeds for planned property improvements”, Mattli said in a prepared statement. “We were able to meet our client’s needs by securing a 35-year self-amortizing FHA/HUD loan with a highly competitive interest rate.”
Image courtesy of Greysteel