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Greystone Lines Up Fannie DUS Loans for Detroit-Area Apts.
Greystone has provided a total of $46.51 million in Fannie Mae DUS financing to refinance two suburban Detroit multifamily properties. Both transactions were originated by Greystone’s Fred Levine on behalf of longtime client Singh Development Company.
A $27-million Fannie Mae DUS loan to refinance Mainstreet Village Phase II (pictured) in Novi, MI, includes a 10-year term and a low, fixed rate. Another $19.51 million was provided on Brandywine Apartments in West Bloomfield Townshp, MI. The properties were built in 2003 and 2002, respectively.
For both transactions, Greystone leveraged Fannie Mae’s Green Rewards program, which provides borrowers committed to making energy or water usage improvements with favorable financing terms.
Based in West Bloomfield Township and now in its 45th year, Singh Development builds, owns and manages a large portfolio of Class A multifamily, office and Waltonwood Senior Living Communities.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing

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