SAN JOSE, CA-GlobeSt.com has exclusively learned that Greystone, a national provider of multifamily and healthcare mortgage loans, has provided a $43.81-million Fannie Mae Delegated Underwriting and Servicing Loan for Chateau La Salle, a housing community in San Jose, CA.
The loan was originated by Tim Thompson, managing director of Greystone's San Francisco office. The 10-year fixed-rate loan transaction has a 30-year amortization for the community that consists of 434 homes.
“Our long term relationship with Fannie Mae and our deep knowledge and experience of the multifamily market on the West Coast enabled the Greystone team to work quickly and efficiently on behalf of Chateau La Salle,” explains Rick Wolf, senior managing director of Greystone's Fannie Mae production team. “We see immense growth potential in the West Coast and look forward to continued success in the region.”
The Greystone team worked closely with Fannie Mae to ensure that the commercial real estate deal closed on schedule, even as the property's ownership structure changed a week before the approval deadline. In addition, Thompson and his team were able to secure better pricing for the borrower from an earlier proposal, and Greystone waived all impounds and reserves escrows.
The deal was brought to Greystone by Robert Mallett, director at Marcus & Millichap Capital Corp. Based in Palo Alto, Mallett has worked with borrowers and originators throughout Northern California for more than 20 years and helped facilitate the deal's terms with Fannie Mae and Greystone.
“It's a pleasure working with a creative and caring organization like Greystone to serve a great property like Chateau La Salle,” Mallett says in a statement. “The strong relationship between Greystone and Marcus & Millichap has been a vital component to our success in multiple regions across the country, and I look forward to continuing to work closely with Greystone to provide financing opportunities for clients throughout Northern California.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
