Greystone has provided an $18,220,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) loan for the acquisition of a 139-unit multifamily property in Chicago, Illinois. The financing was originated by Clint Darby and Andrew Remenschneider of Greystone.
Originally constructed in 1927, Cornelia-Stratford in Cook County is a mid-rise apartment building featuring studio, one-, two-, three- and four-bedroom units. The property’s amenities include bike storage, laundry facilities and tenant lounge. The $18.2 million non-recourse, fixed-rate loan features a 15-year term with interest-only payments for the first five years of the term.
“We deeply appreciate it when clients return to Greystone based on their past experiences with us – there is no greater show of trust in our process and multifamily expertise,” said Mr. Darby. “Our careful and creative approach helps clients achieve their goals, and we leverage our extensive lending platform to bring them exceptional solutions quickly.”