NEW YORK, July 21, 2016 (GLOBE NEWSWIRE) -- Greystone, a real estate lending, investment and advisory company, today announced it has provided a $15,150,000 Fannie Mae Delegated Underwriting and Servicing (DUS®) loan to refinance Bedford Park Apartments in Atlanta, GA. Greystone provided a Bridge loan, originated by Keith Hires of Greystone’s Atlanta office on behalf of Bedford Park Partners in 2014 for the acquisition of the property.
The 7-year adjustable rate Fannie Mae loan for Bedford Park includes a 30-year amortization. Bedford Park Apartments, in close proximity to Interstate 85, comprises 272 1-, 2-, and 3-bedroom units with community amenities including swimming pool and playground.
"We’ve been fortunate to have provided Bedford Park Partners with a Freddie Mac Small Balance Loan, a Freddie Mac Affordable loan, a Bridge loan to acquire this particular property, and now, a Fannie Mae DUS loan for permanent financing, allowing us the opportunity to flex a variety of Greystone’s commercial lending muscles," said Joe Mosley, Executive Managing Director and head of Agency lending at Greystone. “We appreciate their confidence in us as a lender,” he added.
About Greystone
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 and Fannie Mae 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 Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information, visit www.greyco.com.