Greystone Provides $61.25 Million in Fannie Mae Financing


NEW YORK, Jan. 25, 2021 (GLOBE NEWSWIRE) — Greystone, a private national commercial real estate finance firm, made $61,250,000 in permanent Fannie Mae DUS® loans to a subsidiary of Sinatra & Company Real Estate (“SCRE”) A multi-family portfolio of three properties and 769 units in the Rochester, NY market available for refinancing.

The new 10-year fixed rate loans refinance Greystone’s original bridge financing in March 2020. Greystone’s Drew Fletcher, Matthew Hirsch and Paul Fried originated both the bridge financing and the new permanent financing.

The portfolio, originally acquired for $70 million, consists of Centerpointe Apartments & Townhomes with 295 units in Canandaigua, NY; Willowbrooke Manor Flats with 160 units in Brockport, NY; and Highview Manor Apartments & Townhomes with 314 units in Fairport, NY.

“This deal is a testament to the strength of Greystone’s diversified lending platform and serves as another case study of the power of our bridge-to-agency product,” said Drew Fletcher, President of Greystone Capital Advisors.

Paul Fried added, “This portfolio is further evidence of SCRE’s commitment to identifying opportunities and investing capital to create value for its partners and tenants. We enjoyed working with the team to close a market-leading round-trip financing as SCRE delivered a flawless execution of their business plan for this sizeable portfolio.”

“We are pleased to expand our relationship with Greystone and Fannie Mae to bring quality housing to the greater Rochester market,” said Nick Sinatra, SCRE Founder and CEO. “Over time, we will continue to expand shared apartments to make them the best housing options for workers in their submarkets.”

SCRE CIO Anthony Nanula added: “Despite the headwinds the multifamily market has been facing, particularly at the time of the acquisition in March, Greystone has delivered fantastic executions and worked tirelessly with us to make this all happen amid a global pandemic enable.”

About Graystone
Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, being ranked as a top FHA, Fannie Mae and Freddie Mac lender in these sectors. Loans are offered by Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information visit www.greystone.com.

About Sinatra & Company Real Estate
Sinatra and Company Real Estate was founded in 2010 and is headquartered in Buffalo, NY. With approximately 5,800 homes and nearly 1 million commercial properties owned and operated in the Western New York, Upstate New York, Dallas-Forth Worth, Indiana and Chicagoland regions, Sinatra and Company Real Estate is a premier private owner. Residential and commercial property operators in the Midwest. Learn more at sinatraandcompany.com.

PRESS CONTACT:
Karen Marotta
Gray Stone
212-896-9149
[email protected]

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