Greystone provided a $41.6 million Fannie Mae Delegated Underwriting & Servicing (DUS) loan to refinance a 280-unit multifamily property in Cape Coral, Fla. The financing was originated by Greystone, with Largo Capital acting as correspondent.
Constructed in 2022, The Palms at Cape Coral in Lee County is a garden-style apartment community with five buildings featuring one-, two- and three-bedroom units. The property’s amenities include a clubhouse, fitness center, swimming pool, pet park and pickleball court. The non-recourse, fixed-rate loan features a 10-year term and 30-year amortization, with five years of interest-only payments.
