GEORGETOWN, Texas – Nov. 19, 2020 – Regions Real Estate Capital Markets (RECM), a division of Regions Bank, announced the organization is providing a $38 million Fannie Mae DUS (Delegated Underwriting and Servicing) loan for the acquisition of Bexley Wolf Ranch, a 332-unit Class A multifamily property approximately 25 miles north of Austin in Georgetown, Texas.
Regions Bank utilized Fannie Mae’s Streamlined Early Rate Lock program, which allows clients to lock in a long-term interest rate several weeks prior to closing. Additionally, Regions was able to close the loan in under 45 days, which enabled the sponsor, Weinstein Properties, to meet its closing deadline.
“Our work with Weinstein Properties is a strong example of what we call ‘Regions360,’” said Hunter Echols, Real Estate Capital Markets Director. “During the processing of the Wolf Ranch financing, Weinstein was also working to acquire a property in Ft. Worth. We had a solution for that, too, by providing bridge loan services through our Income Property Finance team. The result was a smooth loan process and closing as Weinstein expands its reach not only in suburban Austin but also in the Dallas-Fort Worth market.”
Our work with Weinstein Properties is a strong example of what we call ‘Regions360’
Hunter Echols, Real Estate Capital Markets Director
Weinstein Properties currently owns and manages more than 19,000 apartment units with multifamily properties across North Carolina, Texas and Virginia.
Regions Capital Markets is a licensed Fannie Mae DUS and FHA/HUD agency lender. Regions focuses on market-rate multifamily, affordable, student and senior housing through various loan programs offered through both government agencies. Regions Real Estate Banking is a team of four business groups – Real Estate Corporate Banking, Income Property Finance, Homebuilder Finance and Regions Affordable Housing – strategically assembled to meet the needs of professional real estate companies, developers and investors.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $145 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,400 banking offices and 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.