Greystone has provided a $31 million Fannie Mae Delegated Underwriting and Servicing Green Rewards loan to refinance a 189-unit multifamily property in Louisville, Kentucky.
The financing was originated by Michael Zukerman, Managing Director at Greystone, on behalf of Dearborn Capital Partners LLC.
The $30.975 million Fannie Mae loan carries a 10-year term and 30-year amortization along with a low fixed rate. Germantown Mill Lofts was originally constructed in 1889 and operated as a fabric mill through the mid-20th Century. After subsequent use as a retail facility, the property was eventually converted into residential units and completed in 2017.
The substantial rehabilitation included significant environmental remediation, qualifying the project for Fannie Mae Green Rewards incentives. In addition to the studio, one-, and two-bedroom units, Germantown Mill Lofts includes a fitness center, community pool, outdoor grilling area, bocce ball court, pet park and spa, and clubhouse.
