Greystone Provides $12M Loan for Eugene Multifamily Property

Commercial real estate finance company Greystone has provided an $11.75 million Fannie Mae Delegated Underwriting & Service loan for the acquisition of Somerset Villas, a 92-unit multifamily property in Eugene, OR. The financing was originated by the firm’s Tim Thompson out of San Francisco, while Mark Paskill from Melvin Mark Capital Group acted as correspondent on the transaction.

“Greystone has extensive multifamily lending capabilities and expertise to help clients realize their vision for their multifamily portfolios,” said Thompson in a news release. “We get excited about helping clients find financings solutions that are right for their particular circumstance.” The non-recourse, fixed-rate financing in this transaction carries a 10-year term and amortization, with full-term interest-only payments.

Constructed in 1999 and located in Lane County, OR, Somerset Villas is a garden-style apartment community with 15 buildings that feature two-bedroom townhouse-style units.