Greystone Provides $24.5 Million in Fannie Mae Refinance for Multifamily Property in Georgia

Core Insights - Greystone has provided a $24,477,000 Fannie Mae DUS® loan to refinance Manchester at Wesleyan, a 328-unit apartment community in Macon, Georgia [1] - The refinancing will support the sponsor's value-add strategy, which has already improved property and operating performance [2] Company and Property Overview - Manchester at Wesleyan, built in 1996, features amenities such as two pools, a fitness center, a gated dog park, and updated interiors [2] - Since acquiring the property in 2023, the sponsor has invested over $1 million in renovations, increasing physical occupancy to 94.2% [3] - The property qualifies as mission-driven under Fannie Mae's affordability criteria, serving residents at or below 80% of the area median income [3] Sponsor Performance - Arcan Capital has a strong track record in operating multifamily assets in the Southeast, successfully executing their business plan for Manchester at Wesleyan [4] - The refinancing allows Arcan Capital to return capital to investors while continuing to invest in the asset [4]