Greystone places $36.015 million Fannie Mae DUS loan to refinance Colonial Townhouse Apartments

Windham, CT Greystone, a real estate lending, investment and advisory company, has provided a $36.015 million Fannie Mae Delegated Underwriting and Servicing (DUS) loan to refinance Colonial Townhouse Apartments. The loan, closed in 14 days, was originated by Donny Rosenberg of Greystone on behalf of Colonial BT LLC, with Shaya Ackerman of Meridian Capital in New York as correspondent on the transaction.

Colonial Townhouse Apartments - Windham, CT

The non-recourse Fannie Mae loan for Colonial Townhouse Apartments carries a 10-year fixed term with the first 3 years interest-only, and a 30-year amortization. The property, 95.9% occupied, boasts 444 residential units and is situated in the Hartford MSA. The owner has held the property since 2000 and has invested over $7 million in rehabilitation of the community’s interior units and exterior.

“The Greystone/Meridian team delivered results in a timeframe that we never thought possible, and it was probably the smoothest execution we have ever experienced,” said Mordecai Sternstein, CFO of the borrower.

About Greystone Greystone is a real estate lending, investment and advisory company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA and Affordable Fannie Mae lender in these sectors. Our range of services includes commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge and proprietary loan products. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information, visit www.greyco.com.