Fannie Mae's headquarters
Coronavirus is not slowing down Greystone: It recently signed a deal to provide a $26.6 million Fannie Mae Delegated Underwriting and Servicing loan to refinance a multifamily property in New Castle County, Delaware. A New York-based real estate lending, investment and advisory company, Greystone has remained an active lender during the pandemic.
The Fannie Mae loan carries a 10-year term with a 30-year amortization. The first three years of the loan consist of interest-only payments.
Liberty Square is a 297-unit property that spans 13.8 acres. Designed as a garden style, multifamily apartment community, the property's amenities include a swimming pool, playhouse, playground, tennis court and laundry facilities in each building.
Dan Sacks of Greystone, who originated the deal, said, "After having worked with our clients on a number of properties in Pennsylvania, we are thrilled to help expand their portfolio into Delaware." He added, "It is extremely gratifying when clients come back to us showing they believe in our ability to meet their capital needs."
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