PHOENIX—With national companies such as Banner Health, Honeywell, American Express, Wells Fargo, Bank of America, JP Morgan Chase, UHaul International, United States Postal Service, St Joseph's Hospital and the Mayo Clinic, Phoenix is home to some of the most well-known names in finance, healthcare and transportation. To address the housing demands of employees of these types of companies, the multifamily lending and purchasing phenomenon continues to thrive throughout the metro.
Two Fannie Mae DUS loans totaling more than $45.56 million for the refinancing of 1,009 units were provided by lending, investment and advisory company, Greystone. Both Fannie Mae DUS loans carry identical terms of 10 years with 30-year amortizations.
“The Phoenix multifamily market is thriving and benefiting from a great refinance environment,” said Joe Mosley, executive managing director and head of agency lending at Greystone. “We are thrilled to have simultaneously closed two loans for our client to take advantage of attractive terms and strengthen their portfolio for future deals.”
Valencia Park, which was refinanced for $19.30 million, comprises 461 units, and Granite Bay, refinanced for $26.26 million, includes 548 units. The two properties each offer residents a host of amenities including swimming pool, tennis, fitness center, library, clubhouse and playground. The properties were built in 1983 and 1980, respectively.
Mosley, executive managing director and head of agency lending for Greystone tells GlobeSt.com: “As a leading Fannie Mae DUS lender, Greystone has the ability to seamlessly guide property owners through the refinance process to take advantage of attractive terms provided by the agency in order to optimize their portfolios.”
The loans were originated by Tony Spaeth of Greystone.
PHOENIX—With national companies such as Banner Health, Honeywell,
Two
“The Phoenix multifamily market is thriving and benefiting from a great refinance environment,” said Joe Mosley, executive managing director and head of agency lending at Greystone. “We are thrilled to have simultaneously closed two loans for our client to take advantage of attractive terms and strengthen their portfolio for future deals.”
Valencia Park, which was refinanced for $19.30 million, comprises 461 units, and Granite Bay, refinanced for $26.26 million, includes 548 units. The two properties each offer residents a host of amenities including swimming pool, tennis, fitness center, library, clubhouse and playground. The properties were built in 1983 and 1980, respectively.
Mosley, executive managing director and head of agency lending for Greystone tells GlobeSt.com: “As a leading
The loans were originated by Tony Spaeth of Greystone.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
