NEW YORK, May 19, May 19, 2020 (GLOBE NEWSWIRE via COMTEX) -- Greystone, a leading commercial real estate lending, investment, and advisory company, has provided a $17,800,000 Fannie Mae Delegated Underwriting and Servicing (DUS(R)) loan to refinance a 208-unit multifamily property in Fairburn, Georgia. The transaction was originated by Keith Hires in Greystone's Atlanta office.
The $17.8 million Fannie Mae loan carries a 12-year term and 30-year amortization, with two years of interest only payments. The refinancing enables the borrower to continue the property's ongoing renovations, as well as monetize their existing equity.
Built in 2001, Cambridge Faire Apartment Homes is a pet-friendly, garden-style apartment community featuring 208 one-, two- and three-bedroom units with upgraded finishes and new appliances, as well as in-unit laundry hook ups. Residents enjoy access to the community's pool and fitness center, clubhouse, sports courts, dog park and car wash. Located near Interstate 85 in the southwest region of metro Atlanta, the property is a short drive from Hartsfield-Jackson International Airport, and offers easy access to many restaurants and retailers, as well as to Atlanta's central business district.
"We love helping clients access our extensive platform for the right type of long-term permanent financing, regardless of market conditions," said Mr. Hires. "We strive to make it as easy and seamless as possible for clients realize their long-term vision for their investment, in every transaction we do for them."
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, Fannie Mae, and Freddie Mac 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 Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greyco.com .
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