I am currently leading a small syndicate to buy US multifamily assets, will seek financing for roughly $3M. Upon looking at Fannie Mae's website, specifically the term sheet for conventional products (link here: https://multifamily.fanniemae....), part of the eligibility requirements are the following:
• Credit-worthy single-asset U.S. borrower with U.S. ownership
• Borrowers may have indirect foreign ownership interests, subject to proper structuring of the borrowing entity and its parent
Our investors are mostly Canadian and South American, with a small minority being from the US. More importantly, the General Partners are all foreign nationals (non US). Are we still eligible for a Fannie Mae mortgage after stabilization of the asset?