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Chateau LaSalle Drive, San Jose, CA |
New York, NY –
Greystone, a leading national provider of multifamily and healthcare mortgage
loans, today announced it has provided a $43.81 million Fannie Mae Delegated
Underwriting and Servicing (DUS®) Loan for Chateau La Salle, a housing
community in San Jose, California.
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| Tim Thompson |
The loan was
originated by Tim Thompson, Managing Director of Greystone’s San
Francisco office. The 10-year fixed rate loan transaction has a 30-year
amortization for the community that consists of 434 homes.
“Our long term
relationship with Fannie Mae and our deep knowledge and experience of the
multifamily market on the West Coast enabled the Greystone team to work quickly
and efficiently on behalf of Chateau La Salle,” said Rick Wolf, Senior
Managing Director of Greystone’s Fannie Mae production team. “We see immense
growth potential in the West Coast and look forward to continued success in the
region.”
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| Robert Mallett |
The Greystone team
worked closely with Fannie Mae to ensure that the deal closed on schedule, even
as the property’s ownership structure changed a week before the approval
deadline. In addition, Thompson and his team were able to secure better pricing
for the borrower from an earlier proposal, and Greystone waived all impounds
and reserves escrows.
The deal was brought
to Greystone by Robert Mallett, director at Marcus & Millichap
Capital Corporation. Based in Palo
Alto, Mallett has worked with borrowers and originators throughout Northern
California for more than 20 years and helped facilitate the deal’s terms with
Fannie Mae and Greystone.
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| Rick Wolf |
“It’s a pleasure
working with a creative and caring organization like Greystone to serve a great
property like Chateau La Salle,” said Mallett. “The strong relationship between
Greystone and Marcus & Millichap has been a vital component to our success
in multiple regions across the country, and I look forward to continuing to
work closely with Greystone to provide financing opportunities for clients
throughout Northern California.”
Greystone is ranked
as a top-10 Fannie Mae lender by volume and was the number one FHA lender for
2012. With more than 200 mortgage professionals throughout the United States,
Greystone is the multifamily industry expert and leader. For more information
about Greystone’s multifamily lending solutions please visit
http://www.greyco.com/multifamily
For a complete copy of the company’s news release, please
contact:
Loretta Mock/Jessica Kleinman
Cognito
+1 646 395 6300
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