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Bienville Towers in Baton Rouge, LA

Greystone Provides $13M in Fannie Mae Financing for LA Multifams

Greystone has arranged $13.4 million in total Fannie Mae Delegated Underwriting Services loans to refinance two multifamily properties in Baton Rouge, LA. The loans were originated by Keith Hires and Carter King, Managing Directors at Greystone, on behalf of Patrician Management.

An $8.1-million Fannie Mae loan was provided for Bienville Towers, covering 160 units of the 200-unit fractured condominium property located at 2100 College Drive. The non-recourse loan carries a 10-year fixed rate with a 30-year amortization and four years of interest-only payments.

A $5.3-million Fannie Mae loan was provided for Parc at Mid City, an 88-unit property located at 1100 South Foster Drive. The non-recourse loan also carries a 10-year fixed rate with a 30-year amortization and the first 5 years of interest-only payments.

“The timing to refinance these two properties was right, and the borrower received favorable terms for both properties, given the rising occupancy demand and strong fundamentals for multifamily in the Baton Rouge market,” said Hires.


Inside The Story

Greystone’s Hires

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as he makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Financing