Greystone Provides $25.3 Million in Fannie Mae DUS? Financing for?Multifamily Property in Atlanta

BY GlobeNewswire | AGENCY | 09/23/22 10:12 AM EDT

NEW YORK, Sept. 23, 2022 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, has provided a $25,251,000 Fannie Mae Delegated Underwriting & Servicing (DUS?) loan to refinance a 232-unit multifamily property in Covington, Georgia. The financing was originated by Keith Hires and Carter King in Greystone?s Atlanta office, on behalf of Patrician LS, LLC. J. Mark Madderra of Madderra, Cazalot & Head-Metairie acted as correspondent.

Constructed in 1999, Leaf Stone Apartments in Newton County consists of 11 garden-style buildings with one-, two- and three-bedroom units. The $25.2 million non-recourse, fixed rate financing carries a 10-year term and 30-year amortization along with 10 years of interest-only payments. Loan proceeds are being used to pay off an existing Greystone CMBS loan and enable the borrower to monetize a portion of the equity in the property.

?Clients choose Greystone because they know we will help them secure the right financing for their properties, no matter how complex the transaction,? said Mr. Hires. ?We?re thrilled that our clients view us as an extension of their multifamily portfolio management team, and we know that our deep industry expertise and our extensive lending platform are what keep them coming back.?

?Our Greystone team raises the service bar higher and higher on every transaction, which has helped us grow our portfolio,? said Mr. Alexis V. Lewis, principal of the borrower and a longtime client of Greystone. ?Greystone not only understands our vision for our properties, but they think creatively and offer us new ideas to help us a achieve our goals ? there is no reason to partner with anyone else.?

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.