NEW YORK, August 27, 2021 (GLOBE NEWSWIRE) – Gray stone, a leading national commercial real estate finance company, provided a $ 22 million loan to Fannie Mae Delegated Underwriting and Servicing (DUS®) to acquire a 324 apartment block in Indianapolis, Indiana. Funding was provided by Dan Sachs, Managing Director of Greystone, for longtime client Cyclone Wildwood 324, LLC.
Fannie Mae’s $ 21,996,000 loan has a 12-year maturity and 30-year amortization, as well as a low fixed rate and five-year interest only payments. Wildwood Village Apartments consists of 33 garden-style tenements offering one and two bedroom apartments with state-of-the-art appliances, built-in washers / dryers, fireplaces, spacious storage rooms and private outdoor spaces. Residents of the pet-friendly community also have access to a community home, business center, fitness center, swimming pool, playground and dog park. The hotel is located off Interstate 65 with easy access to downtown Indianapolis and local restaurants and shops.
“There is no greater compliment than when clients return to us with other properties in their portfolio,” said Mr Sachs. “The long-standing relationships we have built with our clients are based on their trust in our proven ability to understand their needs and execute their transactions seamlessly.”
“When we have a timeline to acquire an asset, we know we can rely on Greystone to complete the deal,” said Mr Eichorn, CEO of Cyclone Wildwood 324. “This was another successful exchange of 1031 – we really rely on it … Greystone because they demonstrate a passion and vision for our property that reflects our own, and to be honest, their knowledge of apartment buildings is truly unmatched in the industry. “
Greystone is a privately held, nationally owned commercial real estate finance company with a strong reputation as a leader in multi-family finance and healthcare, and as a leading lender to FHA, Fannie Mae and Freddie Mac in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and / or other Greystone affiliates. For more information visit www.greystone.com…
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