Greystone, a New York-based provider of multifamily and healthcare mortgage loans, has provided financing for five multifamily properties in the Austin and Dallas-Fort Worth, Texas, metroplex areas, totaling $59.3 million.
Originated by Robert Russell, head of production for Greystone's commercial mortgage-backed securities platform, the financing was provided through the Fannie Mae Delegated Underwriting and Servicing platform.
Greystone closed the financing, which includes 10-year terms and 80% loan to value, in two pools.
The properties acquired, which total approximately 1,442 units combined, include Cypress Club and Windsprint Apartments in Arlington, Hunters Cove in Grand Prairie, and Arbors of Austin and Northgate Hills in Austin.
Earlier this year, Greystone closed the first-ever Freddie Mac Revolving Credit Facility for the senior housing sector.