FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / Press Releases / Read Press Release


Greystone Provides $15.9MM Fannie Mae Loan to Refinance Beverly Hills Apartment Community

November 18, 2021, 07:08 AM
Filed Under: Real Estate

Greystone provided a $15.9 million Fannie Mae Delegated Underwriting and Servicing (DUS®) loan to refinance a 19-unit multifamily property in Beverly Hills, CA. The new permanent financing was originated by Dale Holzer, Managing Director at Greystone.

The $15,966,500 Fannie Mae loan carries a 10-year term and along with a low, fixed rate and ten years of interest-only payments. Purchased in 2003 by the current owners, Park Rodeo Apartments was built in 1937, and comprises studio, one-, two-, and three-bedroom units. The restored Old Hollywood courtyard style apartment building is situated on iconic Rodeo Drive and includes amenities such as a fitness room and parking garage.

“This quintessential Beverly Hills apartment community is a gem in the sponsors’ portfolio, and it’s been a pleasure helping them extract the property’s value and increase cash flow with a permanent Fannie Mae loan,” said Mr. Holzer. “We look forward to future transactions with the team as they grow their portfolio.”

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.