Greystone secures $15 million Fannie Mae loan for 45-unit multifamily property in Vista. The financing, arranged by Tim Thompson, managing director at Greystone on behalf of KSB Development Group, features a non-recourse fixed-rate with interest-only payments for the entire five-year term. Constructed in 2022, Santa Fe Townhomes offers luxurious two-bedroom units and the loan proceeds will allow the borrower to access equity in the property.
According to Thompson, “We were able to lock in an early rate and increase proceeds by 5% during underwriting due to increased rent collections. This was highly beneficial for our client as it allowed us to take advantage of market fluctuations and mitigate interest rate risk.”
