The 234 Apartment

NEW YORK, Aug. 15, 2017 ( GLOBE NEWSWIRE ) — Greystone, a real estate lending , investment and advisory company, today announced it has provided a $26.65 million Fannie Mae DUS ® loan in combination with $5.35 million in preferred equity from New York Mortgage Trust , Inc., for the acquisition of Autumn Park, a 358- unit multifamily property in Newark, Delaware. The transaction was originated by Keith Hires of Greystone’s Atlanta office with Ryan Ade and Neil Campbell of HFF as correspondents on the deal. The Fannie Mae DUS loan includes a 7 / 6 adjustable rate at 3 years of interest-only and a 30-year amortization. Autumn Park is a garden- style community comprising 1 -, 2-, and 3-bedroom apartments with a pool, located within easy access to I-95 and downtown amenities. During the underwriting process of the loan for Autumn Park, Greystone overcame a number of unique environmental challenges , including issues with an unprecedented number of underground storage tanks . Greystone wo...

NEW YORK, NY -   Centerline Capital Group (“Centerline”), a provider of real estate financial and asset management services for affordable and conventional multifamily housing , and a subsidiary of Centerline Holding Company (OTC: CLNH), announced today it has provided a $12. 2 MM Fannie Mae facility to refinance the Copper Creek Apartments in Evansville, Indiana. Copper Creek Apartments is a Class A garden style multifamily facility that comprises 16, two- and three-story buildings with a combined total of 291 units.  The loan is a 10- year fixed rate facility with a 30- year amortization period . The loan proceeds will be used to pay off the combined existing debt and yield maintenance that will mature in 2012.  Centerline is one of the nation’s leading Mortgage Banking institutions in the multifamily sector . The borrower is a single asset, Indiana limited partnership that is led by a well- established property owner in this tertiary market, and a l...