Greystone Provides $20.8M Agency Loan for Refinancing of Lehigh Valley Multifamily Property

ALLENTOWN, PA. — Greystone has provided a $20.8 million Fannie Mae loan for the refinancing of Wynnewood Greens, a 206-unit multifamily property located in the Lehigh Valley city of Allentown. Built in 1975, Wynnewood Greens comprises 18 three-story buildings that house one-, two- and three -bedroom units. Amenities include outdoor picnic areas and onsite laundry facilities. Avi Lifshitz and Aviel Hematian of Greystone originated the seven-year, nonrecourse loan, which was structured with a fixed interest rate and full-term interest-only payments. The borrower, S&S Properties, purchased the asset in 2008.