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Greystone Provides $35M in Fannie Mae Financing for Fairfield MF Property
Greystone has provided a $35 million Fannie Mae loan to refinance Barnbeck Place Apartments, a 165-unit multifamily property in Fairfield, Connecticut.
Located at 398 Federal Road, the property, built in 2015, offers studio, one- and two-bedroom units with a 98.2% occupancy rate. It includes affordable housing, with 20% of the units reserved for residents earning 80% AMI.
The Fannie Mae loan features a fixed-rate, five-year term, a 35-year amortization, and three years of interest-only payments. The loan was originated by Greystone’s Dan Sacks and Avi Kozlowski, with Platinum Capital Group as the correspondent.
“This asset is critical to providing affordable housing in Brookfield, where the vacancy rate is only around 5% and the population is growing over time,” said Sacks. “A gem in the market, the owners have secured long-term financing that will benefit the residents for many years.”
