Content and data provided by various third parties and Fidelity - Terms of Use
Print.Print
Small font size A Larger text size A Largest text size A

Greystone Provides $16 Million in Fannie Mae Financing for Multifamily Property in Central Islip, New York

BY GlobeNewswire | AGENCY | 11:58 AM EDT

NEW YORK, May 11, 2026 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, has provided a $16,050,000 Fannie Mae Delegated Underwriting & Servicing (DUS?) loan to refinance Coventry Village, a 94-unit multifamily property located in Central Islip, New York. The financing was originated by Robert Meehan, Managing Director at Greystone.

Constructed in 1975 and renovated in 2011, Coventry Village is a garden-style community comprised of 94 units across two residential buildings. The property features a mix of one- and two-bedroom apartments and maintains strong occupancy, reflecting stable demand in the Western Suffolk submarket. The non-recourse, fixed-rate loan carries a five-year term and is structured with a 30-year amortization schedule.

?Greystone is pleased to deliver a tailored refinancing solution that supports our client?s long-term ownership strategy,? said Mr. Meehan. ?Coventry Village has demonstrated consistent performance, and this financing enables the borrower to capitalize on the property?s stability while maintaining flexibility for future growth.?

?Coventry Village stands out as a stable, well-performing asset in a competitive rental market,? said Matt Albano, Managing Director of GCP Capital Group. ?This financing allows ownership to continue executing on a long-term strategy while maintaining a high-quality living environment for residents.?

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.

Media Contact:

Fran Del Valle
fran@influencecentral.com

Image: https://www.globenewswire.com/newsroom/ti?nf=OTcxNzU2MCM3NTk1ODk1IzIwMjMzODA=
Image: https://ml.globenewswire.com/media/OTlhYmFhYWEtZDAyMS00Yjc0LTk3OTMtMzAyNDRkNDExNDEzLTEwMzQ5NDgtMjAyNi0wNS0xMS1lbg==/tiny/Greystone.png

Image: Primary Logo

Source: Greystone

More Fixed Income News

All Fixed Income News

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.

© 1998 – 2014 FMR LLC.

All rights reserved.
fir_news_article