NEW YORK, March 09, 2016 (GLOBE NEWSWIRE) — Greystone, a real estate lending, investment and advisory company, announced it has provided $36,112,000 in Fannie Mae DUS® loans for the acquisition of a portfolio of three multifamily properties in Austell, GA and Douglasville, GA. The loans were originated by Rob Russell of Greystone.
The loans, provided to InterCapital Group, LLC, carry a 10-year term with 3 years of interest-only and a low fixed interest rate. Forest Glen Apartments in Austell, GA was acquired for $14,960,000. Home Ridge Apartments and Stewart’s Mill Apartments, both located in Douglasville, GA, were acquired for $9,822,000 and $11,330,000, respectively.
Forest Glen Apartments comprise 264 units over 26.4 acres; Home Ridge Apartments include 200 units over 25 acres; and Stewart’s Mill Apartments comprise 188 units over 18.8 acres.
“We look forward to growing our relationship with InterCapital and helping them meet the growth and acquisition goals of their expanding portfolio through providing tailored financing solutions,” said Joe Mosley, Executive Managing Director and head of agency lending at Greystone.
Greystone provides mortgage finance solutions across multiple platforms, including FHA, Fannie Mae, Freddie Mac, USDA, CMBS, bridge, mezzanine and other proprietary loan programs.
Greystone is a real estate lending, investment and advisory company with an established reputation as a leading commercial mortgage lender, consistently ranking as a top FHA and Fannie Mae lender in multifamily and healthcare financing. 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.