NEW YORK, Nov. 06, 2017 (GLOBE NEWSWIRE) -- Greystone, a real estate lending, investment and advisory company, today announced it has provided a $37,000,000 Fannie Mae Delegated Underwriting and Servicing (DUS) loan to refinance The Henry in Tacoma, WA. The loan was originated by Tom Meunier of Greystone’s Newport Beach, CA office.
The Henry’s refinance replaces a previous Fannie Mae DUS 7/6 ARM loan provided by Greystone in 2016. This allowed the borrowing entity time to apply for and obtain its Green Globes for New Construction certification, in order to obtain long-term fixed rate financing for the property.
The Henry is a newly-constructed Class-A mid-rise building comprising 161 residential units with six floors. Offering ground-level commercial space, the property is ideally situated along the Tacoma Foss Waterway with convenient access to the area’s restaurants, museums and shopping. The Henry’s amenities include a resident lounge, fitness center, picnic area/courtyard, and dog park.
“As a newly-constructed property, once The Henry received its green certification, it qualified for new loan incentives from Fannie Mae – including lower, long-term fixed rates which provided greater loan proceeds. In addition, the building’s energy efficient systems are a direct benefit for the tenants,” said Tom Meunier.
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.
PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@Greyco.com