Greystone Closes $32M in Financing for Multifamily Property in Newark, Delaware

NEWARK, DEL. — Greystone has provided a $26.6 million Fannie Mae DUS loan in combination with $5.3 million in preferred equity from New York Mortgage Trust for the acquisition of Autumn Park, a multifamily property in Newark. The Fannie Mae DUS loan includes a 7/6 adjustable rate at three years of interest-only and a 30-year amortization schedule. The community features 358 apartments in a mix of one-, two- and three-bedroom layouts. Keith Hires of Greystone originated the transaction, while Ryan Ade and Neil Campbell of HFF assisted in the deal.

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