Greystone, a leading national commercial real estate finance company, has provided a $15,486,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) loan to refinance a 252-unit multifamily property in Albany, Georgia. The financing was originated by Rob Meehan and Avrom Forman, both Managing Directors at Greystone, with Yehuda Heller of Seven Stone Capital acting as correspondent.

Constructed in 1987, 509 North Apartments in Dougherty County is a garden-style apartment community with 14 buildings featuring one- and two-bedroom units. The property’s amenities include a clubhouse, laundry facilities, four swimming pools, a dog park along with tennis and volleyball courts. The $15.9 million non-recourse, fixed-rate Fannie Mae loan features a seven-year term and 30-year amortization.

“We know that borrowers have a choice and deeply appreciate when they come to Greystone for our expert guidance in uncovering the right financing for their unique needs,” said Mr. Meehan. “Our deep expertise in the multifamily sector and extensive lending platform means that we bring the right tools to the table for any loan transaction.”

“Greystone’s reputation for being the best in the business is well-deserved – not only did our team possess incredible technical acumen and market savvy but their attention to detail and client service was remarkable,” said Mr. Leon Shweky, principal of the borrower. “Even in today’s market, Greystone put together a financing solution that sets us up for long-term success for an outcome that was even better than we had anticipated.”