Greystone, a leading national commercial real estate finance company, has provided a $12,985,600 HUD-insured 207/223(f) loan to refinance an affordable housing property in Hartford, CT. The financing was originated by Eric Rosenstock, Jesse Yodice, and Daniel Daskal of Greystone.

Tuscan Brotherhood Homes I & II is a 170-unit rent-restricted community spread over 12 buildings and comprised of studio, one-, and two-bedroom units. Built in 1976 as affordable housing, 99% of the units today are set aside for income-qualified residents and subsidized with project-based rental assistance. The HUD-insured financing carries a 35-year term.

“HUD-insured multifamily financing is an attractive solution for affordable housing sponsors because it enables a long mortgage term and a lower interest rate than typical bank financing,” said Mr. Yodice. “We are thrilled to have been recently re-affirmed as the leading HUD lender for multifamily housing*, and are truly gratified when clients return to us to help optimize their portfolio assets.”

Greystone, a leading national commercial real estate finance company, announced it has arranged a $14 million debt placement for the refinancing of a newly-constructed build-to-rent community in Tucson, Arizona. The transaction was sourced by Shana Daby, Managing Director and Rebecca Reich, Associate, at Greystone, with Greystone’s Thomas Wayda, Managing Director, and Dante DiStefano, Associate, handling the debt placement.

Linda Vista Luxury Rentals is a 64-unit build-to-rent community completed in 2024 currently in active lease-up. The mountain view property offers residents amenities including a pool and spa/hot tub. The financing arranged by Greystone was provided by an undisclosed lender and includes a 36-month term.

“Greystone’s debt placement team strives to help borrowers navigate the current capital markets and source the best solution for whatever financing needs they may have. We have fostered competitive lending partnerships which have proven to be an invaluable resource for our clients. The BTR space is an asset class that we continue to find this success,” said Mr. Wayda.

Ms. Daby added, “We are so thrilled to have helped our client refinance this quality asset, which is providing much-needed housing options in the Tucson market.”

Greystone, a leading national commercial real estate finance company, announced it has provided a Freddie Mac loan to refinance a 357-unit multifamily property located in Schaumburg, IL. The financing was originated by Eric Rosenstock and Dan Sacks, both Senior Managing Directors at Greystone, on behalf of Bayshore Properties.

Greystone provided a $55,620,000 five-year, interest-only Freddie Mac Optigo® loan. An additional $6,000,000 in preferred equity funds were provided by 7Acres at closing, totaling $61.6 million for the transaction. 

21 Kristen Apartments is a condo deconversion that the borrower acquired in 2022 and who has since invested over $2.5 million in capital expenditures. The property has 30% of its units reserved for residents at 30% to 80% Area Median Income (AMI). Located in the Chicago MSA submarket of Schaumburg, 21 Kristen is within a neighborhood boasting a mix of municipal/recreational, residential, retail, and office uses. The multifamily property comprises one-, two-, and three-bedroom units and includes community amenities such as a pool, fitness center, and library / meeting room.

“Greystone is a highly reliable lender with an excellent suite of options for borrowers,” said Mr. Nick Kozul, principal, Bayshore Properties. “The Greystone team is beyond dedicated to exceeding expectations and we value our collaboration.”

“It’s been an honor to work with Bayshore Properties over the years and help their portfolio grow in size and strength,” said Mr. Rosenstock. “This recent refinance, which is a take-out of previous Greystone debt, helps set the property up for success as we move toward the next CRE market cycle.”

Greystone, a leading national commercial real estate finance company, has provided an $18,220,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) loan for the acquisition of a 139-unit multifamily property in Chicago, Illinois. The financing was originated by Clint Darby and Andrew Remenschneider of Greystone.

Originally constructed in 1927, Cornelia-Stratford in Cook County is a mid-rise apartment building featuring studio, one-, two-, three- and four-bedroom units. The property’s amenities include bike storage, laundry facilities and tenant lounge. The $18.2 million non-recourse, fixed-rate loan features a 15-year term with interest-only payments for the first five years of the term.

“We deeply appreciate it when clients return to Greystone based on their past experiences with us – there is no greater show of trust in our process and multifamily expertise,” said Mr. Darby. “Our careful and creative approach helps clients achieve their goals, and we leverage our extensive lending platform to bring them exceptional solutions quickly.”

Greystone, a leading national commercial real estate finance company, announced it has arranged a $57 million aggregation facility to finance all homes upon completion within the 317-unit Grove Landing build-to-rent community located at 1280 Dunbar Road in Warner Robins, GA, on behalf of Parkland Communities. The transaction was sourced by Avi Kozlowski, Managing Director at Greystone, with Greystone’s Thomas Wayda, Managing Director, and Dante DiStefano, Associate, handling the debt placement.

Grove Landing, located 20 miles south of Macon in Houston County, Georgia, is currently 22% complete and is leasing quickly to new residents. The community offers cottage-style single-family home rentals available in 2, 3, and 4 bedrooms with community amenities including a pool, clubhouse, and playground. The credit facility arranged by Greystone, provided by an undisclosed lender, includes a 36-month term.

“Grove Landing is the only single-family build-to-rent community in Houston County and is already yielding positive results serving the influx of new residents filling the 4,400 new jobs coming to area,” said Jim Jacobi, President, Parkland Communities. “Greystone’s ability to source the right option for us has been invaluable to our continued success.”

“Greystone is proud to have offered our client a unique capital solution that reflects the quality of our lending partnerships in the build-to-rent space,” said Mr. Wayda. “We look forward to witnessing the borrower’s success with this project and others to come. I’d encourage other developers to reach out to our team and learn more about the products and services the debt placement team can offer.” 

Greystone, a leading national commercial real estate finance company, has provided a $41,535,000 Freddie Mac Optigo® loan to refinance a 252-unit multifamily property in Winter Park, FL. The financing was originated by Haig Kilicyan and Donny Rosenberg of Greystone on behalf of White Eagle Group.

Crane’s Landing, located in Winter Park FL, is a pristine rental community that has been owned and operated by White Eagle since 2016. Community amenities include a clubhouse, business center, billiards room, swimming pool, fitness center, volleyball court, grilling area, and tennis court. The Freddie Mac financing is a seven-year fixed rate mortgage with five years of interest-only payments and a 35-year amortization.

“Through ongoing investments in property upgrades, White Eagle Group is enhancing living conditions and reinforcing its commitment to affordable housing across its portfolio,” said Abe Spitz of White Eagle Property Group.

“As a testament to the close collaboration with our client, our teams’ expertise and efficiency, and our knowledge and working relationship with Freddie Mac, we were able to close this financing in under 45 calendar days,” said Mr. Kilicyan.