Greystone Provides $21.46 Million Fannie Mae DUS? Loan to Refinance a Multifamily Property in Herndon, Virginia

BY GlobeNewswire | AGENCY | 06/14/22 11:56 AM EDT

NEW YORK, June 14, 2022 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, has provided a $21,464,000 Fannie Mae Delegated Underwriting and Servicing (DUS?) loan to refinance a 144-unit multifamily community in Herndon, Virginia. The transaction was originated by Cullen O?Grady, managing director in Greystone?s Rockville, MD office.

Developed in 1964 and rehabbed in 1989, Parkridge Gardens Apartments comprises 78 one-bedroom, 54 two-bedroom, and 12 three-bedroom townhome units on 6.80 acres. Project amenities include a leasing office, BBQ/picnic area, playground, common laundry facility and free access to the Herndon Community Center. Located in Fairfax County, the property has had excellent historical occupancy and access to major thoroughfares, including the Silver Metro line which provides direct access to the Washington DC Central Business District and major employment centers, including Amazon.

The borrower is a private investor and repeat Fannie Mae client.

?We executed the loan swiftly with very favorable terms through Fannie Mae?s Streamline Rate Lock process, allowing the borrower to lock their rate after application during an extremely turbulent and volatile treasury market,? said Mr. O?Grady. ?We are always grateful when clients come to Greystone for agency financing solutions, placing their trust not only in our lending capabilities but also our industry leading expertise especially during challenging times in the market.?

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

Karen Marotta



Image: Primary Logo

Source: Greystone

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.