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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.”


