Greystone Provides $27.3M Financing for NC Multifamily
Greystone has provided $27.325 million in total Fannie Mae Delegated Underwriting & Servicing (DUS®) financing for a two-property portfolio in Greensboro, NC. Greystone Director Justin Hechler originated the financing on behalf of Featherstone Partners.
The properties, 120-unit Terrace Oaks and 156-unit Terrace at Olde Battleground received 10-year, fixed-rate Fannie Mae loans with 35-year amortizations and the first six years of interest-only payments. Both properties boast amenities including swimming pools and fitness centers, while the larger community, Terrace at Olde Battleground, additionally offering a playground, car wash station, dog park and wash station, and picnic area with fire pit.
“Exiting the portfolio’s existing debt all at once by way of three separate transactions was tricky due to the current capital markets environment – having a thorough understanding of the mechanics that went into each step, along with having great financing partners like Greystone, made all the difference,” said Featherstone Managing Partner Chuck Patty.
Angela Noote is a native of Northern California and graduated from Chico State with a degree in public relations. After college she moved to the Central Coast and worked first in ad sales then in editorial, eventually spending more than a decade as a print reporter and editor. She detoured into design work at a printer/publisher, and with a partner eventually opened a boutique full-service marketing agency. Moving into corporate communications, she built and managed several successful marketing teams in the hospitality, financial services, and nonprofit industries. Most recently she was an internal comms manager in the tech sector. After a long stint spent in Georgia (Go Dawgs), she moved to Baton Rouge, LA and has written for clients in the financial, luxury imports, higher ed, commercial cleaning, and medical equipment industries. Her son is a media arts major at the University of South Carolina, and her husband owns a comedy theater in Baton Rouge, where you can often find Angi teaching improv classes, leading corporate training events, or doing an occasional stand up set.