Greystone Provides $107M for Texas Portfolio Acquisition
- Aug 03, 2016
Dallas—Greystone has provided almost $107 million in Fannie Mae Delegated Underwriting and Servicing (DUS)(r) loans for the acquisition of a half dozen Texas properties situated within the Dallas-Fort Worth Metroplex. Greystone Managing Director Rob Russell originated the loans for Chicago-based Intercapital Group.
The six properties included three apartment communities in Lewisville, Texas, north of Dallas. They are Wimbledon, Catalina Apartments and Oaks of Lewisville. The others were Greenwood Creek in Benbrook, Summer Gate Apartments in Irving and Parc Plaza Apartments in Euless. Both Irving and Euless are Metroplex cities situated between Dallas and Fort Worth, while Benbrook is southwest of Fort Worth.
Terms of the Fannie Mae loans included 10 years, 30-year amortization and three years of interest-only. “We are pleased to have had the opportunity to leverage our deep Fannie Mae lending experience and knowledge of the Texas market on behalf of the borrower, and look forward to helping them continue to add value to their portfolio,” said Joe Mosley, executive managing director and Greystone head of agency lending.
Greystone has built a reputation as a leader in multifamily and healthcare finance. The New York City based company has ranked as a top FHA and Fannie Mae lender by volume in these sectors.