Greystone Arranges $37M Refi for Texas Multifamily Portfolio
- May 25, 2016
New York—The real estate lending, investment and advisory company Greystone of New York recently announced it has provided three Fannie Mae DUS loans totaling $36.8 million to refinance an 811-unit multifamily portfolio in Texas.
The loans were originated by Tony Spaeth of Greystone and carry 10-year terms with 30-year amortizations, each with a period of interest-only payments. The portfolio includes three properties, two located in San Antonio and one in Austin, Texas.
Park at Crestview is a 248-unit apartment community located at the crossroads of Highway 183 and Lamar Boulevard at 822 Research Blvd. The property was refinanced for $16.7 million with three years interest-only.
Park at Ventana is a 319-unit multifamily property located at 3903 Barrington St. It’s been refinanced for $11.6 million with five years interest-only.
Villas at Ventana, also located in San Antonio at 2167 NE. Interstate 410 Loop, is a 244-unit community that has been refinanced for $8.5 million with five years interest-only. All three residential properties incorporate contemporary amenities such as a swimming pool, fitness center, clubhouse lounge and business center.
“Greystone’s expertise with both the Fannie Mae DUS product and agile navigation of the Texas multifamily market has enabled us to coordinate this trio of closings for our client in alignment with their existing portfolio under the most beneficial terms,” said Joe Mosley, executive managing director & head of agency lending at Greystone.
Image courtesy of Villas at Ventana