NEW YORK, NY - Greystone, a leading national commercial real estate finance company, has provided a $50 million Fannie Mae Delegated Underwriting and Servicing (DUS®) loan to acquire a 435-unit multifamily property in North Little Rock, Arkansas. The financing was originated by Dan Sacks, Senior Managing Director, and Avi Kozlowski, Managing Director, at Greystone, with David Singer of Callaway Capital acting as correspondent on the transaction.
Fountaine Bleau, located 14 miles northwest of Little Rock, consists of 18 total residential buildings and one-, two-, and three-bedroom units. Built between 2010 and 2014, the property is spread over 20 acres and includes amenities such as two swimming pools, two clubhouse buildings, two fitness centers, business center, tennis courts, and BBQ area.
Upon acquisition, the owner committed to implement multiple “green” improvements that will result in an estimated 16.5 percent in energy savings and 17.8 percent in water savings. The elected improvements include new thermostats, insulating water lines, upgrading lighting, washing machines, and faucets / showerheads.
“We are thrilled to have worked with Callaway and their client on another transaction with this latest acquisition and a smooth Agency execution,” said Mr. Sacks. “This property, and the community overall, will surely benefit from the many energy and capital improvements over time.”
About Greystone: Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com