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HOOVER, ALA. — Greystone has provided a $14.5 million Fannie Mae Delegated Underwriting & Servicing loan for the refinancing of 700 Riverchase, a 216-unit property in the southern Birmingham, Alabama suburb of Hoover.
The non-recourse, fixed-rate financing features a five-year term and 30-year amortization, with interest-only payments for the full term of the loan. Rob Meehan of Greystone originated the financing, with HKS Capital Partners acting as correspondent. The borrower was not disclosed.
Built in 1983, 700 Riverchase comprises 12 buildings. Units come in one-, two- and three-bedroom floor plans. Amenities include a fitness center, laundry facilities, pool, outdoor grill center, dog park, playground and pickleball court.