Greystone’s Chicago office has originated 19 multifamily Fannie Mae loans in the first quarter of 2013 through the company’s Delegated Underwriting and Servicing platform. The success follows an exceptional 2012, which saw the largest year in volume and transactions for the Chicago location, including 14 deals closed in the fourth quarter alone.
The team, led by Clint Darby and Sujal Parikh, worked to close a number of notable deals throughout the quarter, including an $18.7 million Fannie Mae Structured ARM loan, with a 10-year term and 30-year amortization, for Trio Apartments, a 100-unit property in Chicago – brokered through HFF. In addition, the team originated, together with Marcus & Millichap, a $7.5 million, 10-year fixed rate loan for a 93-unit complex on Pine Grove Avenue in Chicago.
“We have seen significant growth of the Fannie Mae loan market in the Midwest region and continue to build our Chicago office with experienced talent to meet the demand,” said Billy Posey, CEO of Fannie Mae and Freddie Mac lending at Greystone. “The team’s achievements over the past three months are a great start to the year and we are confident that our volume and transactions will continue to grow.”
