Greystone provided a total of $40.124 million in Fannie Mae Delegated Underwriting & Servicing loans for two multifamily properties totaling 408 units in Indianapolis.
The financings were originated by Dan Sacks, senior managing director, and Avi Kozlowski, managing director, in Greystone’s New York office.
For one transaction, Greystone secured a $23.484 million Fannie Mae Green Rewards loan carrying a 10-year term and 30-year amortization, with full-term interest-only payments and 9.5 years of Yield Maintenance. Loan proceeds enable the borrower to acquire and make improvements to the property, which is a 26-building garden style apartment community that was constructed in 1972 and offers 200 one-, two- and three-bedroom units.
For a garden-style apartment community built in 1970 that consists of 24 buildings with 208 studio, one- and two-bedroom units, Greystone separately secured a $16.64 million non-recourse, fixed-rate Fannie Mae loan carrying a 10-year term and 35-year amortization, with full-term interest-only payments and 9.5 years of yield maintenance. In addition to refinancing, loan proceeds enable the borrower to make improvements to the property and monetize a portion of their equity.
Both properties are in Marion County.
