Lanham Multifamily Secures $20M Fannie Mae Refi Funds from Greystone
Greystone has provided a $20-million Fannie Mae Delegated Underwriting and Servicing loan to refinance a 322-unit multifamily community in Lanham, MD.
The transaction was originated by Cullen O’Grady of Greystone, which sourced the transaction through Marc Tropp of Eastern Union Funding. The borrower is a private investor and repeat Fannie Mae, Eastern Union, and Greystone client.
“We executed the loan swiftly with very favorable terms through Fannie Mae’s Streamline Rate Lock process, allowing the borrower to lock their rate right after application during an extremely turbulent and volatile treasury market,” said O’Grady.
The 1965-constructed Del Vista Apartments comprises 168 units in 25 buildings on 14.59 acres.
The Prince George’s County-located property has access to major thoroughfares for direct access into Washington, DC and to major employment centers such as the University of Maryland, the FDA Center for Food Safety and Applied Nutrition, NASA’s Goddard Space Flight Center and the National Archives II facility.
- ◦Financing
