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California  + San Diego  + Finance  | 

Greystone Lines Up Loan for Luxury Vista Townhomes

Greystone has provided a $15-million Fannie Mae Performance Differentiation loan for a 45-unit multifamily property in Vista. The financing was originated by Tim Thompson, managing director at Greystone, on behalf of KSB Development Group. 

Constructed in 2022, Santa Fe Townhomes in San Diego County offers two-bedroom luxury townhome-style units. The $15,043,000 non-recourse, fixed-rate loan features interest-only payments for its entire five-year term. In addition to refinancing, the loan proceeds will enable the borrower to monetize a portion of their equity in the property. 

“We were able to early rate lock the loan and increase the proceeds by 5% during underwriting as rent collections increased,” said Thompson. “This was of great value to the client as we were able to take advantage of a dip in the treasury market and take interest rate risk off the table to maximize the loan amount.” 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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