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New York, NY – September 26, 2013 – Greystone, a leading
national provider of multifamily and commercial mortgage loans, today announced
it has closed a CMBS transaction for $38.75 million on behalf of a suburban
Cleveland-based multifamily property owner.
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| Robert Russell |
The loan was originated by Greystone Managing Director Donny
Rosenberg. Managing Directors Robert Russell and John Palmer
coordinated the underwriting, diligence and closing.
The $38.75 million
CMBS loan was structured with a 10-year term with only three years of interest
and at a rate of 2.35% over ten year swaps. Greystone’s team worked quickly and
efficiently to close the deal in only 35 days and expects to close a number of
additional deals before the end of the year.
“This deal is a
fantastic example of Greystone’s comprehensive CMBS offering and truly
represents the great collaboration and effort that went into completing this
transaction,” said Rob Russell.
“The expertise and experience of our team ensures that we
continue to provide clients with creative products that meet their borrowing
needs and exceed their expectations, and we look forward to providing more
great deals in the near future.”
Launched earlier
this year, Greystone’s CMBS program provides clients with additional loan options
and supplements the firm’s robust Fannie Mae, Freddie Mac and FHA services.
With more than 200
mortgage professionals throughout the United States, Greystone is a multifamily
industry expert and leader. Greystone’s experience working with FHA, Fannie Mae
and Freddie Mac, along with its expertise in the multifamily and healthcare
lending business, allows the firm to provide clients across the United States
with innovative solutions that fit their individual needs.
In 2012, Greystone originated approximately $3.4 billion of
Fannie Mae, Freddie Mac, Affordable, FHA and Bridge multifamily business.
For a complete
copy of the company’s news release, please contact:
Karen Marotta
PR Manager
Greystone
152 W. 57th Street
New York, NY 10019
212-896-9149 direct
917-902-7073 mobile
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