Greystone Provides $30.5 Million in Loans for Varden’s 941-Unit Triad Portfolio Buy

From Greystone’s press release:

Greystone, a leading national provider of multifamily and healthcare mortgage loans, today announced it provided $30,500,000 in loans for the acquisition of four multifamily properties in the Piedmont Triad region of North Carolina. The four separate loans were originated by Vincent Langan of Greystone and delivered to Fannie Mae under its Delegated Underwriting and Servicing (DUS®) program.

The loan terms for all four properties include 10-year financing with 30-year amortization, one year interest-only and 80% LTV. Acquired by Varden Capital Properties (VCP), the apartment communities comprise a total 941 units and all offer a range of attractive amenities such as swimming pool, fitness center, clubhouse and tennis courts. The properties in this portfolio include:

  • Ashland Apartments in Greensboro, NC
  • The Lakes on Meadowood in Greensboro, NC
  • Ambercrest Apartments in Winston-Salem, NC
  • The Hunt Club Apartments in Winston-Salem, NC