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.
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 she makes the transition from an utterly failed racehorse to a lovely show hunter.