REBusinessOnline

Greystone Provides $33M Refinancing for Sausalito Towers Apartments in Bay Area

Sausalito-Towers-Sausalito-CA

Sausalito Towers in Sausalito, Calif., features 90 one-, two- and three-bedroom apartments with covered balconies and wood-burning fireplaces, a heated swimming pool and on-site parking.

SAUSALITO, CALIF. — Greystone has provided a $33 million Fannie Mae Delegated Underwriting and Servicing (DUS) loan to refinance Sausalito Towers, a garden-style apartment community in Sausalito. Tim Thompson of Greystone’s San Francisco office originated the transaction for the borrower, Sausalito Investments.

The loan refinances two existing Greystone loans on the property, and features a 10-year term and 30-year amortization with seven years of interest-only payments. Additionally, the financing has a 61 percent loan-to-value ratio that enables the borrower to continue with ongoing maintenance and renovation.

Originally built in 1962, Sausalito Towers features 90 one-, two- and three-bedroom units with views of San Francisco Bay, covered balconies, wood-burning fireplaces and in-unit washers and dryers. The community features a heated swimming pool, on-site parking and private storage.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.



Related News

Webinars on Demand


Conferences


Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties