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Greystone Provides $35M Fannie Mae DUS Loan for Colton MF
New York-based Greystone provided a $35-million Fannie Mae Delegated Underwriting and Servicing (DUS) loan to refinance a 515-unit multifamily community in Colton. Located at 2069 W. San Bernardino Ave., Westcourt Apartments comprises 137 one-bedroom, one-bath units and 378 two-bedroom, two-bath units.
On-site amenities include an office/clubhouse, fitness center, three swimming pools, two hot tubs, playground, tennis court, laundry facilities, storage rooms and controlled access.
The transaction was originated by Ana Ramos in Greystone’s Los Angeles office with Dan LuVisi of Marketplace Capital acting as correspondent. The loan carries a 15-year term and 30-year amortization at low leverage, below 50% LTV, and a low, fixed interest rate, below 3%, resulting in roughly $10 million in cash-out proceeds.
Ramos says, “While there are many challenges for property investors as a result of the pandemic, there are also new opportunities due to sustained, low interest rates, and the potential for cash-out.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing




